Main investors in Denmark's TDC to cut stake- bookrunner
LONDON Nov 26 (Reuters) - JP Morgan said on Monday it would sell 80 million shares in Danish telecoms group TDC on behalf of certain shareholders of NTC Holding, a group of private equity funds.
Former state-owned monopoly operator TDC will not receive any of the proceeds of the accelerated offering, which would be worth 3.1 billion Danish crowns ($538.9 million) at the company's current share price of 38.95 crowns.
NTC, TDC's main owner, is a consortium of five investment firms - Apax Partners, the Blackstone Group LP, Kohlberg Kravis Roberts, Permira Advisers and Providence Equity Partners.
Order books on the sale, for which JP Morgan is acting as bookrunner, are expected to close on Nov. 27.