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America Movil Reducing Stake in Telekom Austria

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Mexico based America Movil has announced that it is reducing its stake in Telekom Austria, but will retain control of the company.

It is reducing its holding from 59.7 percent to 51.89 percent as part of a previous agreement to reduce the holding within two years.

America Movil took control of the Austrian operator in 2014 as part of a now stalled move to build up a number of assets across Europe.

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Tags: america movil  telekom austria  Austria