TDC offloads Hungarian assets

Danish operator TDC is to offload its controlling stake in Hungarian fixed line provider Invitel for DKK54.9m (€7.4m).

The carrier said it would sell its 64.6 per cent stake in Invitel to Central and Eastern Europe investment company Mid Europa Partners.

Under the deal, TDC will also divest its shareholder loan of DKK253.8m at its nominal value, with the manoeuvre expected to yield DKK120m after tax during the fourth quarter of 2009.

Invitel (formerly known as Hungarian Telephone and Cable Corporation, HTCC) is the second largest fixed line operator in Hungary, with over one million customers.