COPENHAGEN, Denmark, June 17, 2005 (PRIMEZONE) -- Today, TDC has announced that it is exploring strategic options for its fully owned subsidiary TDC Forlag A/S (TDC Directories), including a potential sale of the business.
TDC Directories has a strong position in the market for printed directories, Internet and mobile products, and directory assistance. TDC Directories' main operations are in Denmark and Sweden and in addition a smaller operation in Finland.
In Denmark, TDC Directories produces local, regional, business and residential directories including "De Gule Sider" (Yellow Pages), publishing a total of 7.9 million catalogs in 2004. In Sweden, TDC Directories produces local, regional and business directories with a total publication of 4.2 million catalogs in 2004. TDC Directories also manages internet and data sales operations in both countries.
In 2004, TDC Directories had reported net revenues of DKK 1,436 million and EBITDA of DKK 459 million (under the IFRS Accounting). At year-end 2004 TDC Directories had 1,074 employees, of which 561 in Denmark, 458 in Sweden and 55 in Finland.
The strategic rationale behind exploring the strategic options is that TDC Directories activities only have limited interaction with TDC's other activities and furthermore are not core to TDC's strategy and future direction.
If TDC Directories is divested, then the proceeds will be used for share-buy backs, reduction in net interest bearing debt, and/or acquisition of activities, which strengthen TDC's core operations.
TDC has retained Goldman Sachs International to help it explore strategic alternatives for TDC Directories.