COPENHAGEN, Denmark, August 17, 2000 (PRIMEZONE) -- Today, Tele Danmark has agreed to sell 100% of its interest in Tele Danmark Marine to Alcatel for EUR 121 million (DKK 903 million).
The strategic rationale for the divestment is that submarine cable installation and maintenance is not considered a core part of Tele Danmark's business portfolio. The divestment is a natural consequence of Tele Danmark's focused strategy within cellular, Internet and landline services.
Tele Danmark Marine was part of Tele Danmark's International operations.
Closing of the transaction, expected in October 2000, is subject to fulfillment of certain conditions.
Tele Danmark is the principal provider of a full range of telecommunications services in Denmark and holds significant interests in a range of telecom companies across Northern and Continental Europe. Domestic activities include landline and cellular telephone services, data communications, Internet, leased lines, cable television and directory services. By end of 1st half of 2000 the total number of employees in Tele Danmark A/S and fully owned subsidiaries was 18,446 and total assets were DKK 62.2bn. The Company was privatized in 1994 and today SBC Communications owns 41.6% of the shares, with the remaining shares held by individual and institutional shareowners all over the world. The market value of Tele Danmark's shares is presently approximately DKK 106.7bn (USD 13.1bn). -0-