Rumours about the possible sale of TDC have been buzzing since late August this year. Finally the deal is on the table with a value of over 76 billion Danish crowns.

The buyer, a private equity consortium called, Nordic Telephone Company ApS put forward an offer of approximately 10 billion Euros. TDC´s board recommends the bid to their shareholders but was said to keep their options open for a higher bid from elsewhere.

- TDC is an excellent company with strong market positions and a proven management team. We believe that this offer, which would make this the largest private equity transaction ever in the Nordic region, represents a compelling proposition to the shareholders of TDC and we are excited about the prospect of working with management to continue building towards a successful future for the company, its employees, and customers, NTC said in a statement.

The deal is the largest of its kind in Europe.

Nordic Telephone Company ApS consists of Apax Partner, Permira Advisers, Kohlberg Kravis Roberts & Co, Blackstone Group York and Providence Eqiuty Partners.