Telia to possibly conduct sale of Danish business if bidding for TDC
Telia [STO:TELIA], the Swedish telecom company, would have to sell its Danish operations if it decides to bid for Danish peer, TDC [CPH:TDC], according to Dagens Industri.
This comes after the news stating TDC received an indicative takeover offer from consortium but rejected it as it believes that its planned acquisition of MTG Nordic is a better way to go.
The Swedish business daily reported that the EU commission had stopped Telia's planned acquisition of Norwegian Telenor's [OTCMKTS:TELNY] Danish operations in 2015, and hence Telia would have to appease the regulatory authorities if it decides to direct its sights on TDC. The paper cited several observers who pointed to 3 as the most likely bidder for Telia's Danish operations. The paper further wrote that 3, owned by Hong Kong-based Hutchison Whampoa and Swedish Investor, had previously indicated interest in taking part in the market consolidation.
Meanwhile, the paper separately reported that the Swedish minister of Enterprise, Mikael Damberg, confirmed to the paper that the Swedish government is supportive of Telia's growth plans in the Nordic and Baltic region and is open to discussions if the telco wishes to conduct a larger buy which may require extra financing.