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Moody’s might lower TDC
Moody's Investors Service said it placed TDC A/S' ratings on review for downgrade.
Moody’s said the action follows the announcement that the company received a buyout offer for its entire share capital for an all-cash consideration of Kr 50.25 per share (about €5.4 billion) or around 8 times 2017 EBITDA.
The offer is subject to the planned merger between TDC and MTG's Nordic Entertainment & Studio Business, announced on Feb. 1, not proceeding. While there is no guarantee that a transaction will occur, Moody's said it believes it is likely that the offer will be accepted, because TDC's board recommended the offer to its shareholders.
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