November 29, 2016 / 4:20 PM / a year ago

UPDATE 1-TDC loses major contract with Novo Nordisk to Telenor

(Adds TDC comments, details)

COPENHAGEN, Nov 29 (Reuters) - Danish telecoms group TDC has lost a major contract in Denmark after one of the country’s biggest employers, Novo Nordisk, said it chose Norway’s Telenor as its telecoms supplier.

Novo Nordisk will transfer all its around 18,000 employees in Denmark who have a company paid internet connection or mobile phone to Telenor from TDC before the year-end, a spokeswoman said.

Telenor said it had won a bidding round by Novo Nordisk, without saying when it had taken place, but had no further comment.

TDC did not elaborate on its continued dealings with Novo Nordisk, but confirmed it had lost the round.

“We chose not to bid because it was too low and we have a general position that quality costs money,” a spokeswoman told Reuters.

TDC Group, whose revenue saw a 2.3 percent decline compared to last year in November’s earnings report, is considered a potential take over target by equity funds as the company faces tough competition in the Danish mobile and broadband market.

Shares in TDC ended up 0.22 percent at 35.80 Danish crowns at 1600 GMT.

Reporting by Nikolaj Skydsgaard; Additional reporting by Jacob Gronholt-Pedersen.; Editing by Jane Merriman and David Evans

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