A group of private equity firms have made a formal bid for Denmark's leading telecom operator, TDC A/S, news reports said Thursday.
The offer was entered by a consortium of five firms Apax Partners, Permira Advisors, Blackstone Group, Kohlberg Kravis Roberts & Co. and Providence Equity, the Financial Times reported.
There were differing reports of the size of the offer. The Wall Street Journal Europe said the bid was US$11.6 billion, or nearly 380 kroner (US$59.74) per share. The FT said it was lower than that, but did not provide a figure.
Officials from TDC and Kohlberg Kravis Roberts declined to comment.
Shares in TDC rose 2.8 percent to close at 370.50 kroner in Copenhagen trading.
Another group and Swisscom AG of Switzerland are also considering buying the Danish company, the papers reported. Swisscom spokeswoman Pia Colombo declined to confirm whether the company was interested in TDC but told the AP that "we are looking around ... for acquisitions outside of Switzerland."
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