America Movil announced an agreement to acquire a 21 percent stake in Telekom Austria. This marks the Mexican company's second foray into Europe, after it earlier launched a bid for a 28 percent stake in Dutch operator KPN. The Austrian deal is with Marathon Zwei Beteiligungs, a wholly owned subsidiary of RPR Privatstiftung, the private trust set up by Ronny Pecik. The Mexican company will initially acquire 5 percent, and the remaining 16 percent will require government approvals. The total acquisition should be completed this year. America Movil already holds a 1.7 percent stake in Telekom Austria, so after the deal its total interest will be approximately 23 percent. AM said the takeover is part of its geographic diversification strategy and makes it a strategic partner to the Austrian operator. The company said it expects to develop a "constructive relationship" with Telekom Austria's stakeholders and is confident about the company's overall potential for development. Pecik is expected to continue to serve as vice-chairman of Telekom's supervisory board.
