UBS delivers upsized TDC block

08 Feb 2013

A middling week for Europe’s ECM market turned into a good one on Friday morning with an 80m-share block of TDC shares increased by 50% to raise $857m and performing strongly in the aftermarket as sole bookrunner UBS got its bid spot on.

NTC, the private equity consortium, asked several banks to bid for the block, EuroWeek understands, with JP Morgan holding the lock-up from last November’s 80m share sale. It is unusual for a bank to waive a lock up and lose the mandate — though it happened recently in ...

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