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TDC buys Song
Pan-Scandy telco a step nearer
Consolidation among Scandinavian telcos continues with TDC, previously Tele Danmark, buying Song, the Swedish IP specialist and business telecoms firm, for $552m.
Song provides business with IP and data services. It operates in Denmark, Finland, Norway and Sweden.
Henning Dyremose, president and CEO of TDC, said: "An increasing number of our large business customers request integrated, cross-border communications solutions. With Song Network in our portfolio, TDC will be ready to further expand our position in the business market."
Song Networks employs 850 people and has 14,300 business customers. Song shareholders can choose between an offer of 70 kroner in cash or 0.2577 TDC shares for every Song share.
More details at TDC. ®