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America Movil increases stake in Telekom Austria to 26.8%

2014-01-17 08:22:00| Telecompaper Headlines

(Telecompaper) Mexican billionaire Carlos Slim has decided to consolidate his company and family stakes in Telekom Austria. Carlos Telecom, a subsidiary of his company America Movil registered in the Netherlands, has increased its stake in Telekom Austria to 26.8 percent, after purchasing a 3.14 percent stake from a family foundation. The Austrian government remains the largest shareholder in the operator, with 28 percent. The move by Slim clarifies the company's position before regulators, showing its full indirect and direct stake via a number of subsidiaries. Once a company's cumulative shareholding, it can be required to launch a bid for the rest of the company's shares. In November 2012, America Movil said it was not planning any hostile bid for Telekom Austria.

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Category:Telecommunications

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