International News

(Telecompaper) Shareholders of Danish operator TDC have started a sale of a 15.5 percent stake in the company. Morgan Stanley is running the accelerated book-building for the 128 million shares, which will be offered to institutional investors at DKK 43.40-43.85 per share. TDC said its share buyback programme is suspended during the sale. TDC's shareholders agreed to not sell any additional shares for 90 days. TDC is owned by a consortium of private equity firms which includes Apax Partners, Blackstone, KKR, Permira Advisers and Providence Equity Partners.