TDC sells Baltic mobile for €450m

TDC said last Friday it would sell 100% of mobile operator Bite for €450m to Central and Eastern European private equity fund Mid Europa Partners.

When a private equity consortium, which included KKR and Blackstone, bought TDC at the beginning of last year for US$10.6bn, speculation was rife that TDC’s private equity owners would move to sell certain TDC operations and recoup some of their money spent on the acquisition.

In 2005, Bite’s revenues grew by 22% to €152.2m.