TDC to buy Norwegian cableco

TDC to buy Norwegian cableco

Danish incumbent TDC has agreed to acquire Norwegian cable-TV provider Get AS for 12.5 billion Danish crowns ($2.2 billion), according to reports.

The acquisition will see TDC gain half a million customers in Norway, and it plans to finance the transaction by selling debt, the operator said.

In a statement, TDC said it will reduce its dividend payout to a dividend per share of 2.50 crowns, compared to a previous guidance of a dividend of 3.70 crowns per share.

The deal is expected to complete in Q4 this year and Gunnar Evensen will remain chief executive at the firm.

TDC shares fell 4.7% to 44.20 kroner in Copenhagen trading today.

In April, the Danish operator sold its Finnish operations to DNA.

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