COPENHAGEN (Reuters) - Shares in Danish telecoms group TDC (TDC.CO) dropped on Thursday after media reports that the American hedge fund Apollo had withdrawn a takeover bid.
Apollo pulled out of the negotiations after TDC rejected its offer, according to Danish news agency Ritzau, citing Bloomberg.
After initially rejecting an approach in July, TDC received a new higher bid in September, which has now been rejected too, the reports said.
TDC declined to comment.
Reporting by Annabella Pultz Nielsen; Editing by Keith Weir