TDC's main owners to cut stake further
COPENHAGEN Feb 8 (Reuters) - The main owners of Danish telecom operator TDC have agreed to sell shares in the company worth about 3.28 billion Danish crowns ($588.67 million) at recent prices.
NTC Holding - a consortium of investment Apax Partners, the Blackstone Group LP, Kohlberg Kravis Roberts, Permira Advisers and Providence Equity Partners - will sell 80 million shares, or about 10 percent of TDC's share capital, TDC said in a statement late on Thursday.
The former state-owned monopoly operator said it will not receive any of the proceeds of the accelerated offering.
Order books on the sale, for which UBS is acting as bookrunner, are expected to close on Feb. 8.
NTC bought nearly 89 percent of TDC in the autumn of 2005 and sold 28.8 percent of the stock in one of the biggest share offerings of 2010 for around $2.2 billion.
NTC has since reduced its stake several times. After the latest sale in November last year they reduced their ownership to 25.9 percent.
($1 = 5.5719 Danish crowns) (Reporting by Johan Ahlander)