TDC has signed a definitive agreement to sell its fully owned subsidiary TDC Forlag A/S to European Directories S.A.

October 14, 2005

1 Min Read

COPENHAGEN -- TDC A/S ("TDC") announced today that it has signed a definitive agreement to sell its fully owned subsidiary TDC Forlag A/S ("TDC Directories" or the "Company") to European Directories S.A. ("EDSA"), a consortium led by Macquarie Capital Alliance Group and the holding company of European Directories (formerly known as the YBR Group), for a total consideration of DKK 4.85bn on a cash and debt free basis. The cash proceeds will amount to approximately DKK 5.0bn, including the receipt of cash existing in the Company. The agreement is only subject to statutory merger control clearance, including clearance from Swedish and Austrian competition authorities, which are expected before the end of 2005.

The sale successfully concludes a review of strategic options for TDC Directories launched by TDC on June 17, 2005. TDC Directories is a leading publisher of telephone directories in the Nordic Region with core operations in Denmark and Sweden, together with a niche presence in Finland. TDC Directories key activities include print and online directories and data sales.

Commenting on the transaction, Henning Dyremose, President and CEO of TDC said: "We are delighted to announce this transaction as it represents a highly successful conclusion of our strategic review and shows TDC's continued commitment to creating value for its shareholders. We believe that as a part of European Directories, one of the fastest growing directories companies in Europe, TDC Directories will further improve its leading positions in Denmark and Sweden to the long term benefit of the Company's customers and employees."


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