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BULLETIN: TDC A/S' Potential Management Participation in Cesky Telecom Aug 02
Standard & Poors, Aug 2002
Abstract
Standard & Poor's Ratings Services said today that Denmark-based telecommunications operator TDC A/S' (A-/Stable/A-2) potential management participation in Czech Republic-based Cesky Telecom a.s. (A-/Stable/--) will not affect the ratings on TDC. This morning, the Czech government chose the Deutsche Bank consortium as the preferred buyer for its 51% stake in Cesky Telekom for -1.82 billion ($1.77 billion). The consortium comprises Deutsche Bank AG (AA-/Stable/A-1+) and a group of financial investors. TDC has been invited to be a strategic operator, with only management responsibility in the consortium. Based on performance, TDC might receive shares in Cesky Telecom, enabling TDC to earn a minority ownership over a five-year period, but it would not require the company to make any cash payment. As...
Companies mentioned in this report are: TDC A/S,Deutsche Bank AG,Telefonica Czech Republic AS
Action: S&P Event
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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