TDC received an offer of DKr47.00 per share from a consortium earlier today
Danish Telecoms firm TDC has rebuffed an unsolicited takeover bid from a consortium of pension funds, according to a company statement.
In a statement issued to the Copenhagen Stock Exchange, TDC emphatically stated that the bid was "not in the best interests of the TCS’s shareholders and stakeholders and has been rejected."
The Financial Times reported that the consortium offered DKr47.00 (£5.54) per share.
The consortium said that it had detailed plans to invest in Denmark’s telecoms infrastructure, providing 1Gb download speeds to every property in the country by the mid-2020s.
On the company’s website, TDC’s group CEO and president, Pernille Erenbjerg, reiterated TDC’s commitment to provide cutting edge services to the Danish population.
"We work to help businesses grow without hinderances, and to ensure that Denmark is ready for a digital future featuring intelligent homes and smart cities linked together by a world class internet service," she wrote.
TDC’s shares jumped 14% on the Copenhagen stock exchange following the news of the consortium bid. At time of going to press, TDC’s shares were trading at a price of DKr 44.30 (£5.11) per share.