TDC acquires remaining 80% stake in Web-based mobile telephony reseller Telmore for DKK 299M plus dividend for 2003

January 27, 2004

1 Min Read

COPENHAGEN -- Today, TDC have agreed with Telmore's shareholders to acquire the remaining 80% of the company, which brings TDC's ownership to 100%. The transaction price is DKK 299m plus dividend for 2003.

In April 2003, TDC acquired 20% of Telmore and at the same time TDC negotiated a possibility to acquire the remaining 80% of Telmore.

Telmore, a web-based reseller of mobile telephony, has 460.000 customers and 70 employees. Telmore's founder and President, Frank Rasmussen, has decided to leave his position. He will be replaced by Allan Christiansen, Executive Vice President with responsibility for residential customers in TDC Solutions.

Henning Vest, President of TDC Mobile International says "I welcome Telmore into the TDC Group and look forward to an expanded working relationship to the benefit of the customers".

TDC Tele Danmark A/S

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