LONDON Nov 26 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.