TDC in Negotiation of easyGroup Mobile Phone Brand License

August 6, 2004

Cleary Gottlieb represented long-time client TDC A/S in negotiations for a brand license with easyGroup and entrepreneur Stelios Haji-Iouannou in a transaction that closed today. The license allows TDC to use the familiar "easy" brand to establish a mobile virtual network operator ("MVNO") in a number of European Union jurisdictions. An MVNO provides mobile telephone services by selling under its own brand wholesale airtime purchased from a third party infrastructure provider, thus offering connectivity without the need for a proprietary network.

TDC, a telecommunications market leader in Scandinavia, already has a strong presence in the MVNO business following its acquisition last January of the TelMore web-based telephone business. It intends to use this license to repeat its success throughout Europe, maximizing the goodwill attached to the "easy" brand. The easyGroup, 100% owned by Haji-louannou, acts as a business incubator, founding companies and/or licensing its brand name in various sectors, including air travel, internet access, car rentals and cinema.