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TDC buying Modern Times Group's TV business for $2.5B

Denmark-based telecom operator TDC A/S struck a $2.5 billion deal to buy Swedish Modern Times Group's broadcasting and entertainment business.

The cash-and-stock deal, which values the acquired business at 19.55 billion Swedish kronor, would leave TDC with close to 3 million TV subscribers and access to 10 million households in the Nordic region, according to a Feb. 1 news release.

With this acquisition, TDC will be able to offer fixed-line and mobile telephone services, broadband internet access, TV distribution and streaming services in Denmark and Norway.

As of Jan. 31, US$1 was equivalent to 7.87 Swedish kronor.