December 1, 2016 / 11:40 AM / in a year

TDC share drop after media reports Apollo takeover bid rejected

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in Danish telecoms group TDC (TDC.CO) dropped on Thursday after media reports that the American hedge fund Apollo had withdrawn a takeover bid.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

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