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.