• Austria's news in English

Mexican Slim seeks Austria Telekom deal

AFP/The Local · 15 May 2014, 18:30

Published: 15 May 2014 18:30 GMT+02:00

Facebook Twitter Google+ reddit

Mexican tycoon Carlos Slim's America Movil offered Thursday to buy the 45 percent of Telekom Austria not owned by it or its partner, the Austrian government holding company OeIAG.

Seeking to lock in its presence in Europe after being forced to give up its proposed takeover of Dutch operator KPN last year, America Movil said its offer for the Austrian company's shares would stay open for eight weeks.

The offer came three weeks after the pan-American wireless giant struck a deal to combine its 26.8 percent stake in Telekom Austria with the 28.4 percent held by OeIAG, giving it effective control.

The deal gave America Movil, also known by its stock symbol AMX, operational control of Telekom Austria, which has some 20 million mobile customers spread across Austria, Belarus, Bulgaria, Croatia, Serbia, Macedonia, Liechtenstein and Slovenia.

The two sides also agreed to pump another one billion euros ($1.4 billion) in capital into the carrier.

At the time of that deal, America Movil chief executive Daniel Hajj said the transaction would help "better position Telekom Austria as a more relevant player in the European telecommunication markets."

In October Slim, one of the world's richest men, was forced to abandon a multibillion-euro hostile takeover bid for KPN, one of the largest fixed and mobile operators in The Netherlands and the third-biggest in Germany and Belgium.

Story continues below…

US-traded shares of America Movil were down 1.2 percent at $20.21 in late-morning trade in New York.

In Vienna, shares in Telekom Austria rose 0.25 percent to 7.13 euros after the America Movil offer, which had been expected.

AFP/The Local (rosie.waites@thelocal.com)

Facebook Twitter Google+ reddit

Your comments about this article

Today's headlines
Verdict on swimming pool rape case overturned
The Theresienbad swimming pool in Vienna. Photo: Wikimedia

An Iraqi refugee who was jailed after claiming it was a sexual emergency when he raped a boy in a swimming pool has had the sentence overturned.

Vienna Comic Con promises to be 'bigger and more galactic'
Cosplay star Yaya Han. Copyright: Yaya Han/Bryan Humphrey

Comic Con returns to the Austrian capital on November 19th-20th at the Messe Wien.

Three refugees arrested on drugs charges
Cannabis plants. Photo: J. Patrick Bedell/Wikimedia

A gang of three Afghani drug dealers has been busted in Vienna.

Hungarian woman crushed by snowcat piste machine
Snowcat machine. Photo: Melensdad/Wikimedia

A young Hungarian woman has died after being crushed by a snowcat piste machine on the Dobratsch mountain in Carinthia.

Austrian policeman sentenced over 'Heil Hitler' salute
Photo: Flickr

A policeman in Austria was sentenced on Thursday for shouting "Heil Hitler" at a driver during a traffic check at the Hungarian border in April.

Scary clown craze endangers crucial work of clown 'doctors'
Photo: Bojan Tavcar

Within the last couple weeks, disturbing events involving masked individuals has caught public attention in Austria.

Chimney sweep rescues lost mushroom picker
Photo: James Lindsey/Wikimedia

A 76-year-old Austrian man who went out mushroom picking almost froze to death after getting lost and spending the night in the forest.

Refugees sold into forced prostitution
File photo: UNHCR

Female refugees are being sold into forced prostitution in Austria, a police investigation into human trafficking has found.

Driverless bus takes a spin around Salzburg's old town
The Arma driverless shuttle bus. Photo: Navya

A driverless minibus has made a test journey in the city of Salzburg.

No jail time for asylum seeker who dumped baby in road
Photo: Paul Gillingwater

A man who grabbed his own child and dumped her in the middle of a busy road has been given a nine-month suspended sentence.

Sponsored Article
How to vote absentee from abroad in the US elections
12 brilliant German words you won't find in English
Sponsored Article
Last chance to vote absentee in the US elections
Five films which will change your mind about Austrian cinema
Those surprising Austrians!
Sponsored Article
How to vote absentee from abroad in the US elections
100 years since the last emperor's death
Afghani family's new home in Austria
Der you learn Deutsch?
Delighted by the light
Beware these passport scams
Of course we skipped Oarsch
Foodies rejoice at the choice!
Travel & Tourism
10 years after her escape from captivity
Surviving the Brexit for British expats
Day 2 of the World Bodypainting Festival 2016
Is Islam hostile to Western society?
Bodypainting festival in southern Austria
Europe's ice cream capital
Best Austrian beauty spots
Travel & Tourism
Three days in Vienna as a tourist
How to make friends in Austria
jobs available