TDF faces battle to sell French arm

摘要

Broadcasting masts group tdf faces a battle to sell its French arm as favoured suitor Dering Capital struggles to fund its bid and fears mount that consolidation among the unit's telecoms clients could hit revenues. The sale is important for TDF's private equity owners TPG, Charterhouse and Ardian as they need to raise money to help repay €3.8bn of debt in order to avoid a costly restructuring with creditors. The owners may have to cut their price expectations or postpone the sale and extend their debt agreements with lenders.