According to Reuters sources, TDC hold talks with banks about financing a possible deal that could evaluate Com Home to more than SEK 11.7 billion based on current market value, according to the sources.
Negotiations to merge TDC and Com Hem launched earlier this year, before the Com Hem was listed, and conversations have been off and on since then, according to two of the Reuters sources, however, stresses that it is not safe to discussions leading to any business.
The rumor got Com Hem’s shares rise sharply on Friday afternoon. At most, the increase was 10 percent.
Later on other tasks, even those unofficial, that a bid was not up to date. TDC stated fact have denied the information about the commandments of Com Hem for analysts. It is clear from several comments from analysts who have been in contact with TDC’s Investor Relations department.
A bank’s analysts report that he received a “complete” denial, while another bank writes that after contact with TDC the IR department concluded that a bid is not in the pipeline.
One of the banks refers to TDC’s debt would be too high and that the company has given clear promises to investors about defending its credit rating “Investment Grade”.
A bid would thus require fundraising and TDC has no possibility to withdraw dividends, as many shareholders of the operator seeking yield, says one of the banks.
The probability of a related bids are assessed by one of the banks to be lower than 10 percent.
Direkt has been in contact with TDC’s ir-responsible Dennis Callesen and also company press officer Ib Konrad Jensen. No one wanted to acknowledge that they have given selective information in the form of a denial of individual analysts.
After the new data slowed the rise slightly and shortly after 16 o’clock low Com Hem’s share of plus 4 percent.
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