TDC to complete split of company into two

Danish telco and cable operator TDC is to complete the split of the company into two separate units by January 1 next year.

In June 2019, the operator split its business into two legally and operationally individual subsidiaries, TDC Net and Nuuday, with the aim of establishing two market-leading companies within their individual sectors.

TDC Net, the infrastructure arm of the company, is Denmark’s largest mobile network and broadband provider with a focus on building Denmark’s future digital infrastructure. Nuuday is the country’s largest digital provider of broadband, communication and entertainment services and consists of nine brands – including the YouSee cable brand.

TDC is now beginning the final phase of the separation process, which will establish TDC Net and Nuuday as operationally independent companies. The process will be completed on December 31, 2021, at which time employees in the joint group functions of TDC Group will be transferred to either TDC Net or Nuuday, and the future composition of their respective boards will be in place.

With the separation complete, the group management of TDC Group, consisting of Henrik Clausen, CEO, Lasse Pilgaard, CFO and Jens Aaløse, Executive Vice President, will resign.

TDC A / S will serve as a holding company. Pilgaard and Aaløse will resign from their respective positions on the boards of Nuuday and TDC Net, while Clausen will continue as chairman of TDC Net, a post he has held since February 2020. The overall future board composition will be communicated before the end of the year.

Over the next six months, TDC Group’s management will focus on completing the financial division, as well as the organizational structures for the two companies including ensuring a successful transfer of the joint group functions to the individual companies.

“TDC Group’s group management and not least the employees in the joint group functions have played a central role in realizing the owners’ ambition to create two independent companies and ensure the roll-out of Denmark’s future digital infrastructure. On behalf of the board of directors, I would therefore like to thank Henrik Clausen, Lasse Pilgaard and Jens Aaløse, as well as their teams, for this significant contribution to the transformation of TDC Group and the realization of the owners’ vision of the digital Denmark of the future,” said Mike Parton, chairman of TDC.