February 1, 2018 / 6:55 AM / 9 months ago

BRIEF-TDC Group Enters Into Agreement With Modern Times Group

Feb 1 (Reuters) - Tdc:

* : TDC : TDC GROUP ENTERS INTO AGREEMENT TO COMBINE WITH MTG’S NORDIC ENTERTAINMENT AND STUDIO BUSINESSES

* ‍TO CREATE EUROPE’S FIRST FULLY CONVERGENT MEDIA AND COMMUNICATIONS PROVIDER​

* MTG NORDIC HAS BEEN VALUED AT SEK 19.55BN (DKK 14.86BN), ON A CASH AND DEBT FREE BASIS

* ‍TRANSACTION BRINGS TOGETHER TDC’S DIRECT-TO-CONSUMER OFFERING IN MOBILE, BROADBAND AND TV SERVICES​

* ‍COST SYNERGIES OF DKK 400M YEARLY WITH AN ADDITIONAL REVENUE POTENTIAL OF APPROXIMATELY DKK 200M.​

* COST SYNERGIES OF DKK 400M YEARLY WITH AN ADDITIONAL REVENUE POTENTIAL OF APPROXIMATELY DKK 200M FROM DEAL

* ‍DIVIDEND UPSIDE DUE TO VALUE OF SYNERGIES AND TRANSACTION LEADING TO IMPROVED CAPITAL STRUCTURE​

* ‍BOARD OF DIRECTORS INTENDS TO INCREASE 2018 DIVIDEND PER SHARE (DPS) TO DKK 1.40​

* SHALL PAY AT CLOSING OF TRANSACTION A CASH AMOUNT OF SEK 3.3BN AND ISSUE A TOTAL OF 308.9 MILLION TDC SHARES

* ‍2018 FINANCIAL RESULTS WILL BE IMPACTED BY MERGER WITH MTG NORDICS WITH EFFECT FROM CLOSING OF TRANSACTION.​

* ‍UPDATED FULL YEAR GUIDANCE FOR 2018 WILL BE PUBLISHED WHEN TRANSACTION CLOSES​ Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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