America Movil acquires 4.1% stake in Telekom Austria

News General Austria 6 JUN 2012
America Movil acquires 4.1% stake in Telekom Austria
America Movil has acquired a stake of 4.1 percent in Telekom Austria, according to Oscar Von Hauske, head of fixed operations at America Movil, cited by Reuters. He reacted to Austria media reports and said that the stake was acquired through the market. Von Hauske told Reuters that American Movil has been looking for some time at Telekom Austria, but declined to comment further. 

The news was broke by Austrian magazine News, which said that Carlos Slim, the billionaire owner of American Movil, was in talks with Telekom Austria shareholder Ronny Pecik on combining their stakes in the company. Such a venture would give Slim and Pecik control of nearly 25 percent of Telekom Austria. Von Hauske said he had not held personal talks with Pecik or his investment partner, Egyptian billionaire Naguib Sawiris. 

In May, America Movil made a move to expand in Europe's telecoms market with a bid to boost its 5 percent stake in Dutch group KPN to up to 28 percent, offering EUR 8 per share. News reported that the Austrian government, which holds a 28.4 percent stake in Telekom Austria through the state investment vehicle OEIAG, has welcomed the idea of getting a Pecik-Slim combination as a stable core shareholder in Telekom Austria, which lost money after restructuring charges last year and which has been shaken by corruption scandals.

Categories:

General

Companies:

KPN,  A1 Telekom Austria,  America Movil

Countries:

Austria,  Netherlands

Tags:

Cooperations & alliances, Corporate strategy, M&A buyouts & divestments

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