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Monday August 20th, 2018 10:11PM

Denmark's TDC gets takeover approach, scraps MTG deal

By The Associated Press

HELSINKI (AP) — Danish telecoms company TDC Group says it has been approached by a potential bidder for all of its shares and will therefore call off its own $2.5 billion takeover plan of Sweden's Modern Times Group's broadcasting and entertainment operations.

The Copenhagen-based company said Monday in a brief statement that it was not certain that the talks would lead to the unnamed bidder making a takeover offer.

TDC is owned by Danish and international investors. It announced Feb. 1 a bid for MTG Nordic Entertainment and MTG Studios to combine the two companies' operations into a pan-Nordic provider of TV and internet services.

Investors had raised questions about the MTG deal last week when TDC said it had rejected a $6 billion takeover from Australia's Macquarie and three Danish pension funds.

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