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Telekom Austria eyes EUR 500 mln capital increase - report

2013-08-27 11:22:00| Telecompaper Headlines

(Telecompaper) Telekom Austria is looking to secure fresh capital of around EUR 500 million, reports DerStandard newspaper. This figure is understood to have been discussed at a recent supervisory board meeting. America Movil reportedly supports the plan in order to avoid its 23.7 percent stake in the operator being diluted. It is not clear if government holding company OIAG will participate. It currently holds 28.42 percent of Telekom Austria and would have to contribute around EUR 70 million to maintain a minority stake (25% plus one share), or double that to maintain its existing shareholding. Telekom Austria declined to comment on the report.

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