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America Movil Seeking Synergies between Telekom Austria and KPN

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Telekom Austria is opening talks with Netherlands based KPN regarding possible cooperation, spurred on by their mutual shareholder, Mexico's America Movil.

Telekom Austria has been holding talks with America Movil to discuss synergies between them and they are going well, Telekom Austria Chief Executive Hannes Ametsreiter told the Wall Street Journal.

While he declined to comment on the content of the talks, saying they involved internal company strategy, he did say he hoped to be able to speak about "some areas" at an investors presentation due in December.

America Movil owns 28% of KPN and 6.75% of Telekom Austria, with a proposal to raise that to 20% waiting for regulatory clearance.

It had been speculated that America Movil was building up a string of assets across Europe as part of a push into the mature market and could encourage joint ventures between them.

On the web: Wall Street Journal

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Tags: telekom austria  america movil  kpn  Austria  Netherlands