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America Movil, Austrian govt discuss joint stake in Telekom
2014-02-25 09:18:00| Telecompaper Headlines
(Telecompaper) America Movil announced that it has held cooperation talks with other shareholders of Telekom Austria Group, including the government holding company, Oesterreichische Industrieholding (OIAG). The company said it may start formal negotiations on setting up a shareholders' syndicate agreement with OIAG. However, the process is still at a very early stage and an agreement may not be reached. At the moment the two shareholders do not have any common understanding in relation to Telekom Austria. America Movil holds 26.8 percent in the Austrian operator and the government has 28.4 percent. Combining their stakes in a syndicate would take them over the limit of 30 percent when a mandatory offer for the other shares is required. Such an agreement could allow America Movil to increase its stake in the company, while still allowing the government a say on the operator's strategy.
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Category:Telecommunications