View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
February 3, 1994

DENMARK LOOKS TO LAUNCH PRIVATISATION OF TELE DANMARK IN MAY

By CBR Staff Writer

The European Commission on Tuesday approved the plans by the Danish government for partial privatisation of Tele Danmark A/S, and the Communications Ministry says it will proceed with the necessary legislation. With a view to putting forward a law proposal as quickly as possible, the politicial parties involved will be invited to concluding talks, the ministry said. The Commission investigated the terms of the privatisation, the biggest in Danish history, to determine whether there was any state aid in contravention of European Union rules. The offer of shares is now expected to be launched in May, which suggests that it will clash with the bigger Dutch privatisation. Under the agreement reached in June last year between the Social Democrat-led government and the Conservative and Liberal opposition parties, Denmark plans to cut its stake in Tele Danmark to 51% from 89.9%. Tele Danmark must buy the state’s 38.9% stake at a 170 crowns per share, the market price of on June 14 last year. The 10.1% that is already privately held, will be redeemed by the state at 170 crowns each, sold to Tele Danmark for the same price and floated along with the state’s 38.9% stake as B free shares at a price to be determined. Private shareholders that decline the offer face forced redemption of their shares at a price of 125 crowns each on March 1 1997. The offer of shares, at a much higher price than the internal transactions, is tipped to raise as much as $2,300m for Denmark, but there is big disagreement on the likely price.

Content from our partners
How businesses can safeguard themselves on the cyber frontline
How hackers’ tactics are evolving in an increasingly complex landscape
Green for go: Transforming trade in the UK

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU