TDC Sells Bité

COPENHAGEN -- TDC has decided to sell its 100 percent-owned Baltic mobile operator Bité to the Central and Eastern European private equity fund Mid Europa Partners for a cash consideration of EUR 0.45bn

“Bité is a well-managed and fast-growing company in a very attractive market. However, in accordance with TDC's strategic focus, Bité is considered a financial holding with the purpose to maximize value. To this end, we feel the time is now right to dispose of Bité to another party to continue its development", says Jesper Theill Eriksen, CEO of TDC Mobile International.

The disposal of Bité is the end result of a thorough strategic review process of the company. Following this process, TDC has concluded that at the agreed price and conditions, Mid Europa Partners is the right owner for Bité going forward.

In recent years, Bité has steadily increased its market shares in a growing market for mobile telephony in Lithuania and Latvia. Since 2004, Bité’s customer base has quadrupled to almost 2m. In 2005, Bité achieved a 22 percent revenue growth to EUR 152.2m. In September 2005, Bité expanded into Latvia creating new growth prospects. Bité employs approximately 500 per-sons in both countries.

TDC A/S (Copenhagen: TDC)