TDC Signs Agreement to Potentially Divest its Stake in UMCTDC Signs Agreement • November 5th, 2002 • TDC a/S • Telephone communications (no radiotelephone)
COPENHAGEN, Denmark, Nov. 5, 2002 (PRIMEZONE) -- Today TDC (NYSE:TLD), through TDC Mobile International, has signed an agreement whereby TDC has an option to divest its 16.3% stake in UMC (Ukrainian Mobile Communications). The UMC shares can be sold to MTS (Mobile Tele System), a Moscow-based mobile operator, through a put and call option agreement; allowing TDC to sell its shares for a price determined by the financial performance of UMC subject to a minimum price of USD 55m (DKK 414m). The put option can be exercised from 9 months until two years after signing.
