TDF examining offers for sale of French assets

Transmission services provider TDF is looking at two offers for the sale of its French business, according to press reports.

According to Reuters, TDF is examining offers from Canadian pension fund PSP Investments and investment fund Dering Capital, with the former offering around €3.5 billion and Dering offering €3.6 billion.

TDF, which began looking for a sale earlier this year, has been hoping to secure around €4 billion for the sale, enabling it to pay off debts amounting to €3.8 billion. The company’s owners are expected to try to convince the two leading bidders to raise their offers, with a possibility that the sale may be pulled if this doesn’t happen, according to the report.