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General

Sawiris may sell Telekom Austria stake to Slim

Friday 25 May 2012 | 13:47 CET | News
Egyptian tycoon Naguib Sawiris has threatened to sell his stake in Telekom Austria, perhaps to Mexican peer Carlos Slim, if Austria does not give Sawiris and partner Ronny Pecik free rein to streamline the company, Bloomberg reported. The partners have built a 21 percent stake in Telekom Austria, in which the state is the biggest shareholder with a 28.4 percent stake. Pecik got a seat on its board on 23 May while Sawiris put his board seat bid on hold. Asked by Bloomberg Television why he was interested in a company that was overstaffed and needed cost cuts, Sawiris said that was why said he

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Categories: General
Companies: A1 Telekom Austria / America Movil
Countries: Austria / Egypt
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