Home >> More Business news >> This Article

America Movil in Shareholder Pact Talks with Telekom Austria Shareholders

Published on:

Note -- this news article is more than a year old.


Mexico's America Movil has confirmed it is in talks to form a shareholder's syndicate to control Telekom Austria. The Mexican firm currently owns a 27% stake in the European telecoms operator.

In a statement, America Movil confirmed that it has held talks with the Austrian government's own holding company, OIAG which owns a 28% stake in the company.

It did not clarify what the conditions would be for such a group of shareholders to pool their stakes would be, or how advanced the talks are.

A syndicate would act as an informal holding company, and each of the shareholders would vote in unison. A pact between America Movil and OIAG would have control of the company with a 55% stake in the firm.

America Movil has previously said that it would not launch a hostile bid for the company on its own, but might consider a friendly offer, if for example, the Austrian government were to sell its stake.

In related news, Telekom Austria has delayed a decision to renew the contract of its Chief Financial Officer, Han Tschuden following concerns raised by OIAG. The decision has to be taken by the end of next month though.

Sign up for our free email news alerts

Sample Copy


Tags: telekom austria  america movil  Austria