TDC selling up in the Baltics

TDC have sold their Bite Latvian and Lithuanian mobile venture for €450m. We now know where TDC have got the €470m cash for its recent Hungarian purchase.

The interesting points are:

• TDC sees more future profit in consolidating a fixed line market than in mobile operations;
• Private Equity is still out bidding Telecom Operators;
• The “market” was not that pleased with the sales amount, but we don't yet know the amount of debt left in the Bite.

No doubt, TDC will now move on selling up in Switzerland.