April 22, 2010 / 11:26 AM / 10 years ago

TDC chairman says stock offering still possible

COPENHAGEN, April 22 (Reuters) - The chairman of Danish telecom group TDC TDC.CO said on Thursday the group’s owners could still go ahead with a stock offering despite Swiss authorities’ blocking of the sale of its Sunrise unit.

Earlier on Thursday, Switzerland’s Competition Commission barred France Telecom’s FTE.PA Orange from buying Sunrise, arguing the combined entity would have gained a dominant position in the mobile market. [ID:nLDE63L05K]

Some analysts have expected TDC’s private-equity owners to proceed with a major stock offering once the Swiss deal was cleared.

“The strategic analysis continues,” TDC chairman Vagn Sorensen told Reuters. “One possibility is a refloating on the bourse, and that is still a possibility after the decision in Switzerland.”

A consortium of five private equity firms — Apax Partners, Blackstone Group (BX.N), Kohlberg Kravis Roberts [KKR.UL], Permira Advisers [PERM.UL] and Providence Equity Partners — called Nordic Telephone Company Holding (NTCA) owns 87.9 percent of TDC’s stock.

Though TDC has remained listed in Copenhagen after the 2006 buyout by those firms, the stock is illiquid so a possible stock offering is seen by many as a “reintroduction” to the bourse.

Reporting by Ole Mikkelsen

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