Friday, September 16, 2005
TDC: Swisscom unlikely to acquire TDC; Vodafone linked to TDC’s mobile ops - report
16/09/2005
Story: Swisscom, the listed Swiss telecommunications giant, will unlikely consider acquiring Danish rival TDC. This was reported by Swiss daily Tagesanzeiger without providing any specific sources.
The article picked up a previous report published in Wall Street Journal, which claimed that Swisscom has mandated a financial adviser to evaluate the possibilities at TDC. However, Tagesanzeiger suggested that TDC is likely to be too big and too expensive for Swisscom. TDC has a price tag of between CHF 15bn (EUR 9.675bn) and CHF 16bn (EUR 10.320bn), but Swisscom can, according to its chief executive Jens Alder, only shoulder external funds of CHF 10bn (EUR 6.451bn), the report continued. This would not be enough, even though Swisscom might have to sell TDC’s Swiss mobile telecommunications subsidiary Sunrise on cartel grounds, it added. According to the report, Sunrise is valued at roughly CHF 3.4bn (EUR 2.193bn).
Tagesanzeiger mapped out a different scenario, which it sees as more likely to materialise. The article pointed out that TDC could be sold to financial investors, which would, according to sector experts, break-up the company. The article did not mention any specific financial investors. TDC owns mobile telecommunication companies and service businesses in Denmark, Switzerland (mentioned Sunrise), Germany, Austria, Poland and the Baltic states (Estonia, Lithuania, Latvia), the report said. The most likely buyer of TDC’s mobile operations is UK’s Vodafone, it concluded.
Swisscom is controlled by the Swiss state.
Source: Tagesanzeiger
Value: €10,320m (maximum estimated value of TDC)
(mentioned Sunrise), Germany, Austria, Poland and the Baltic states (Estonia, Lithuania, Latvia), the report said. The most likely buyer of TDC�s mobile operations is U"
Story: Swisscom, the listed Swiss telecommunications giant, will unlikely consider acquiring Danish rival TDC. This was reported by Swiss daily Tagesanzeiger without providing any specific sources.
The article picked up a previous report published in Wall Street Journal, which claimed that Swisscom has mandated a financial adviser to evaluate the possibilities at TDC. However, Tagesanzeiger suggested that TDC is likely to be too big and too expensive for Swisscom. TDC has a price tag of between CHF 15bn (EUR 9.675bn) and CHF 16bn (EUR 10.320bn), but Swisscom can, according to its chief executive Jens Alder, only shoulder external funds of CHF 10bn (EUR 6.451bn), the report continued. This would not be enough, even though Swisscom might have to sell TDC’s Swiss mobile telecommunications subsidiary Sunrise on cartel grounds, it added. According to the report, Sunrise is valued at roughly CHF 3.4bn (EUR 2.193bn).
Tagesanzeiger mapped out a different scenario, which it sees as more likely to materialise. The article pointed out that TDC could be sold to financial investors, which would, according to sector experts, break-up the company. The article did not mention any specific financial investors. TDC owns mobile telecommunication companies and service businesses in Denmark, Switzerland (mentioned Sunrise), Germany, Austria, Poland and the Baltic states (Estonia, Lithuania, Latvia), the report said. The most likely buyer of TDC’s mobile operations is UK’s Vodafone, it concluded.
Swisscom is controlled by the Swiss state.
Source: Tagesanzeiger
Value: €10,320m (maximum estimated value of TDC)
(mentioned Sunrise), Germany, Austria, Poland and the Baltic states (Estonia, Lithuania, Latvia), the report said. The most likely buyer of TDC�s mobile operations is U"
