TDC shareholders sells stakes

A raft of private equity owners in Danish cable operator TDC sold stakes in the company.

Shareholders including Blackstone Group, Permira Advisers, Apax Partners and Providence Equity Partners have sold around 15% of the company and reportedly raised around US$982 million (€746 million). However, KKR & Co. reportedly maintained its stake. As a result of the sale, which is being run by investment bank Morgan Stanley, TDC announced it would suspend its share buy back program, which it announced earlier this month, until the sale has been concluded.