Denmark's TDC Pays $58 Million for Local MVNO
Published on: 11th May 2011
Note -- this news article is more than a year old.
Denmark's TDC has signed an agreement to take over the local MVNO, Onfone. To Onfone's 170,000 customers the deal will lead to no changes beside the fact that they will be transferred to TDC's mobile network. Onfone will continue as a separate company with Morten Strunge as CEO. Prices, terms and conditions will remain unchanged.
"We have been following Onfone closely from the sidelines, but with no plans of acquiring the company. Much to our surprise, we were presented with the prospect of a good deal a few days ago and decided to seize the opportunity," says Henrik Poulsen, TDC's President and CEO.
Onfone's customers are currently using the Telenor network, but will be using TDC's network in the future.
"Onfone has performed quite well and has built a strong position. They fit very well to TDC's multi brand strategy. Onfone will like M1, Telmore and Fullrate continue as a separate company within the TDC group," says Anders Jensen, President of TDC Consumer.
The total price for the company is expected to be approximately DKK 300 million (USD58 million).