DENMARK - ATP protests against squeeze out of TDC shareholders

'It is important for ATP to underline that this case concerns a principal disagreement between TDC's new majority shareholder, NTC, and the minority shareholders. ATP does still not find the DKK 382 per share offer price attractive enough,' says Lars Rohde, director of ATP.

90.93% of voters at a general meeting on 28 February supported NTC's wish to change TDC's laws to enable a squeeze out of minority shareholders. NTC, which is the acquisition vehicle for Apax Partners, Blackstone, KKR, Permira and Providence, needed 90% to vote for the proposal.

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