TDC : TDC divests its subsidiary TDC Hosting Tod
Post# of 301275
Today, TDC A/S announces that it has entered into an agreement to divest TDC Hosting (TDCH A/S) to Maj Invest Equity
The divestment of TDC Hosting is in line with TDC Group's overall strategy "Always simpler and better", which among other things, streamlines TDC Business. TDC Hosting provides IT infrastructure and IT outsourcing services, both alone and in cooperation with TDC Business.
The divestment is subject to merger control approval from the Danish Competition Authority and closing of the transaction is expected within 2-3 months.
The parties have agreed not to disclose the purchase price. The sales proceeds will be applied towards debt reduction.
The divestment changes TDC's guidance for 2017 for EBITDA, whereas the guidance for EFCF and DPS are unchanged.
TDC's previous guidance for 2017 was published in TDC's Financial Statements for 2016 published on 3 February 2017. The updated guidance for 2017 for TDC takes into account the divestment of TDC Hosting.
| 2017 guidance | ||
| Previous | Updated | |
| EBITDA | >DKK 8.3bn | >DKK 8.2bn |
| EFCF | Stable or moderate growth | |
| DPS | DKK 1.05 per share (will be paid out in Q1 2018) | |
Our guidance for 2017 is based on comprehensive financial plans for each individual business line. However, by their very nature, forward-looking statements involve certain risks and uncertainties. The risks and uncertainties are described in more detail in TDC Group’s Annual Report 2016 (Disclaimer and “Looking ahead”-section).
TDC A/S Teglholmsgade 1 0900 Copenhagen C DK-Denmark tdc.com
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