America Movil increases stake in Telekom Austria to 26.8%

News General Austria 17 JAN 2014
America Movil increases stake in Telekom Austria to 26.8%

Mexican billionaire Carlos Slim has decided to consolidate his company and family stakes in Telekom Austria. Carlos Telecom, a subsidiary of his company America Movil registered in the Netherlands, has increased its stake in Telekom Austria to 26.8 percent, after purchasing a 3.14 percent stake from a family foundation. The Austrian government remains the largest shareholder in the operator, with 28 percent. 

The move by Slim clarifies the company's position before regulators, bringing together its indirect and direct stakes via various controlled subsidiaries. Once a shareholder's cumulative holding reaches 30 percent, it can be required to launch a bid for the rest of the company's shares. In November 2013, America Movil said it was not planning any hostile bid for Telekom Austria. 

Categories:

General

Companies:

A1 Telekom Austria,  America Movil

Countries:

Austria

Tags:

Shareholders & subsidiaries, Corporate strategy, M&A buyouts & divestments

Related Articles

AUSTRIA 17 MRT 2014

America Movil now controls 26.81% of Telekom Austria

Telekom Austria Group has been informed by Schoenherr Rechtsanwaelte that Carso Telecom, which is indirectly controlled by America Movil, has completed the transaction to purchase a total of 13.90 million shares of Telekom Austria from Inmobiliaria Carso and Control Empresarial de Capitales. Regulatory approval for the transaction was granted on 11 March. Following the deal, Carso Telecom holds 110.84 million shares with voting rights issued by Telekom Austria corresponding to 25.0206 percent of the votin

AUSTRIA 12 MRT 2014

Government, America Movil continue Telekom Austria talks

The Austrian government and America Movil are still in talks about combining their respective stakes in Telekom Austria but have not yet progressed to formal negotiations, reports Reuters. A spokesperson for state holding company OIAG said that they were still only talks and had not moved to the negotiation stage, adding that this could change in the coming weeks. Combining their shares would trigger a takeover offer for the rest of Telekom Austria by crossing the 30 percent ownership threshold. OIAG curren

AUSTRIA 5 MRT 2014

OIAG calls meeting to discuss Telekom Austria plans

Austrian state holding company OIAG will hold a meeting on 11 March to inform Telekom Austria's works council about a possible partnership with Carlos Slim that could result in a full takeover offer, reports Reuters. An OIAG spokesperson said that a special meeting of the OIAG supervisory board would be held after a request for more information from the head of the works council amid rumours of a possible takeover bid by Slim.

AUSTRIA 25 FEB 2014

America Movil, Austrian govt discuss joint stake in Telekom

America Movil announced that it has held cooperation talks with other shareholders of Telekom Austria Group, including the government holding company, Oesterreichische Industrieholding (OIAG). The company said it may start formal negotiations on setting up a shareholders' syndicate agreement with OIAG. However, the process is still at a very early stage and an agreement may not be reached. At the moment the two shareholders do not have any common understanding in relation to Telekom Austria. America Movil h

NETHERLANDS 12 FEB 2014

Blok: 'Relatie met America Movil moeizamer'

Na de mislukte overnamepoging door América Móvil (AMX) is de verhouding met KPN 'moeizamer' geworden. Dat zegt KPN CEO Eelco Blok in een interview met de Financial Times (FT). De topman zegt ook dat de relatie met het Mexicaanse telecombedrijf wel is verbeterd ten opzichte van een paar maanden geleden. Blok spreekt over een 'constructieve' samenwerking, al is er vanuit AMX nog onduidelijkheid over welke richting zij met KPN op willen. Volgens Blok zou een tweede overnamepoging niet stuiten op regelgeving. D

LATIN AMERICA AND THE CARIBBEAN 12 FEB 2014

America Movil grows net profit 15.7% in Q4

America Movil reported fourth-quarter net profit of MXN 17.2 billion, up 15.7 percent from a year earlier. The result included a charge of MXN 10.2 billion for foreign exchange losses. EBITDA improved 1.4 percent to MXN 63.5 billion, and revenues were up 3.1 percent to MXN 204 billion. Excluding exchange rate effects, EBITDA rose 5.7 percent and revenues rose 7.8 percent, with a 5.4 percent increase in service revenues. The main growth drivers were mobile data and pay-TV, which grew at constant rates by 18.

AUSTRIA 5 FEB 2014

America Movil claims long-term commitment to Telekom Austria

America Movil's investment in Telekom Austria is intended as a long-term one, Carlos Slim's son-in-law Daniel Hajj Aboumrad told website Krone.at during a visit by an Austrian trade delegation to Mexico. Hajj Aboumrad manages the stake in Telekom Austria. America Movil recently combined its investments in Telekom Austria to reach a 26.81 percent holding.

AUSTRIA 5 FEB 2014

'Slim wil belang in Telekom Austria vergroten'

América Móvil zinspeelt op het uitbreiden van zijn belang in Telekom Austria. Dat meldt de publicatie Kronen Zeitung op basis van een interview met topman Daniel Hajj. Hoewel er geen concrete plannen zijn voor het verhogen van het aandeel in de Oostenrijkse carriers, ziet Haij de operator als belangrijke brug naar Oost-Europa. Momenteel heeft América Móvil een belang van 26,8 procent in Telekom Austria. América Móvil is tevens aandeelhouder van KPN. 

AUSTRIA 31 JAN 2014

Austrian govt open to Slim taking majority Telekom stake

The Austrian government is open to America Movil holding a majority stake in Telekom Austria, reports Reuters. Speaking on ORF radio, Rudolf Kemler, head of state holding company OIAG, said it was a "secondary question" whether Carlos Slim acquired a majority stake in the company, as long as the government retained a stake of at least 25 percent. This threshold would ensure that the Austrian government's opinion is considered on major decisions. Currently, OIAG holds just over 28 percent and America Movil h

AUSTRIA 14 NOV 2013

America Movil not planning hostile Telekom Austria bid

America Movil CEO Daniel Hajj said that it was not planning a hostile takeover bid for Telekom Austria following its failed attempt to acquire Dutch operator KPN, reports Reuters. He said that America Movil regarded itself as a stable partner of the Austrian government and did not acquire its Telekom Austria stake in order to take over the company. Speaking to 'News' magazine, he said that people could expect many things from the company, but nothing hostile. America Movil controls 23 percent of Telekom Aus

AUSTRIA 30 AUG 2013

Trade union says govt should keep stake in Telekom Austria

Austrian communications sector trade union OGB said staff at Telekom Austria are concerned about the current rumours of a capital increase at the company and the possibility that America Movil use the opportunity to take a majority stake. Employee representatives are calling for the state to maintain its 28.42 percent holding in the operator. They said through partial privatisations of OMV, the mail service and Telekom Austria, the government has lost EUR 1.25 billion to EUR 1.78 billion in dividends. State

AUSTRIA 29 AUG 2013

Telekom Austria wants OIAG to remain largest shareholder

The supervisory board of Telekom Austria fears that the government would lose its dominant position in the company if a potential EUR 500 million capital increase goes ahead, Die Presse reported. The government owns 28.84 prcent of the operator through holding company OIAG, while Carlos Slim's America Movil holds 23.7 percent and Slim's property company Inmobiliaria Carso owns 3.14 percent, which means Slim holds a blocking minority. Telekom Austria supervisory board head Walter Hotz said the state must rem

AUSTRIA 27 AUG 2013

Telekom Austria eyes EUR 500 mln capital increase - report

Telekom Austria is looking to secure fresh capital of around EUR 500 million, reports DerStandard newspaper. This figure is understood to have been discussed at a recent supervisory board meeting. America Movil reportedly supports the plan in order to avoid its 23.7 percent stake in the operator being diluted. It is not clear if government holding company OIAG will participate. It currently holds 28.42 percent of Telekom Austria and would have to contribute around EUR 70 million to maintain a minority stake

NETHERLANDS 9 AUG 2013

America Movil to launch takeover bid for KPN

America Movil has announced plans to launch a full takeover bid for KPN. It already holds 29.77 percent of the Dutch operator and plans to launch a public bid at EUR 2.40 per share to obtain majority control. The offer is a 35.4 percent premium on KPN's average share price in the past 30 trading days. America Movil said a full takeover of KPN would "facilitate greater operational cooperation and co-ordination between the two companies, to exploit all areas for potential partnerships and to intensify the rea

AUSTRIA 17 OKT 2012

America Movil mulls extra seat on Telekom Austria board

America Movil has proposed expanding Telekom Austria's supervisory board by a seat and filling it with one of its top executives, Oscar Von Hauske Solis, Reuters reports. Von Hauske currently serves as head of America Movil's fixed-line operations.

Just In

19 DEC 16:42

SLT-Mobitel launches 5G network in Sri Lanka

19 DEC 16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

19 DEC 15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

19 DEC 15:42

3 UK launches last-minute Christmas sale

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.