Negotiations with TDC
Press Release
Negotiations with TDC on the Purchase
of Shares in Iceland Telecom hf.
of Shares in Iceland Telecom hf.
On 7 December, the Executive Committee on Privatisation received two offers for a core investor share in Iceland Telecom hf. The offer involves a 25% share, with an option to purchase an additional 10% next year. The offers were submitted by TeleDanmark in Denmark, or TDC as the Company is now called, and the US investment fund Providence.
Since the offers were received, their substance has been examined in consultation with the Committee's advisors. The Committee has also received letters from both parties, and on the basis of these letters and the original offers, the decision has been made to enter into discussions with TDC. The negotiations are scheduled to begin in January.
Reykjavík, 21 December 2001