3.3 Billion US dollar acquisition of Sunrise Department of Danish TDC

Beijing time September 17 morning news, according to foreign media reports, two familiar sources said in Thursday, the London private equity investment company CVC Capital (hereinafter referred to as "CVC") and the Danish telecom company TDC A/S (hereinafter referred to as "TDC") negotiations,　　Plans to buy TDC's Sunrise department at a price of about 3.3 billion Swiss francs (about $3.3 billion). The two sources, who declined to be named, said two companies could announce the deal as early as tomorrow.　　TDC and CVC spokesmen have not commented on the news. TDC agreed last December to sell the Sunrise department to France Telecom, which had originally planned to merge the sector with Orange, the Swiss division, but the deal failed in June this year because of opposition from regulators.　　Analysts say the regulatory hurdles facing the sale of sunrise sector exchanges may have hampered the investment return plans of TDC private-equity owners. TDC, headquartered in Copenhagen, was acquired in 2006 by the Blackstone Group of private equity firms, KKR, Apax Partnership and Pamela Group Permira Advisers LLP. After the acquisition, TDC remained a listed company for the Copenhagen Stock Exchange, as the Danish largest pension fund, ATP, refused to sell its holdings.　　TDC last year said the company could return to the stock exchange for a full listing. According to data compiled by Bloomberg, the acquisition of Sunrise will be the eighth global merger of CVC this year.　　CVC was founded in 1981 as a European private-equity arm of Citigroup, then an independent company in 1993 and currently manages a leveraged buy-out fund of 10.8 billion euros (about 14.1 billion dollars).　　The data also show that global private equity firms have done a total of $103 billion trillion in mergers and acquisitions so far this year, up more than 44 billion dollars a year earlier. "The price of the deal looks good," said John Strand, head of Strand Consult of the Copenhagen investment consultancy. There is no doubt that Sunrise is doing well, and that the sector is seizing market share from Orange, and the franc is rising. "Last year, Sunrise's share of the Swiss handset market was about 20%,orange 18%, while Switzerland Telecom was 62%. (Tangfeng)