OeIAG chief wants to keep stake in Telekom

OeIAG chief wants to keep stake in Telekom
Rudolf Kemler with America Movil CFO Carlos Garcia Moreno. Photo: APA/Jäger
Rudolf Kemler, chief of the state holding company for industry OeIAG which currently holds 28.4 percent of the Telekom Austria shares wants to keep this stake after the increase in capital which is planned for 2015.

It was therefore necessary to take out new loans which would be paid back with money obtained from dividends, Kemler told the daily newspapers "Kurier" and "Presse" in an interview which was published on Sunday.

It was always better to have "some more leeway" instead of being in danger of losing the blocking minority of 25 percent of the shares, he said. Kemler also made it clear that a layoff of Telekom Austria's CEO Hannes Ametsreiter was out of question.

According to the syndicate contract with America Movil concerning a strategic partnership, the OeIAG has the power to decide who would become Telekom Austria's CEO.  America Movil, which is owned by Mexican billionaire tycoon Carlos Slim, now holds 51 percent of Telekom Austria shares.

The cooperation between the OeIAG and the Arab state fund IPIC (International Petroleum Investment Company, Abu Dhabi) concerning Austrian national oil and gas company OMV was "stable and solid after there was a discussion in 2012", he said. OeIAG currently holds 31.5 percent and IPIC 24.9 percent of OMV shares.

Moreover Kemler said that he hoped that a reform of the OeIAG which was planned by the government would take place in autumn. This would include a fund to support Austrian enterprises. "With 100 million euros one can do a lot", Kemler said. However, it was also necessary to convey a reform to all companies that belong to the state. This would include at least 30 companies which were now split among seven ministries.

Some of them would do better within the OeIAG, Kemler said. Concretely he named the energy branch, Casinos Austria and national railways OeBB provided that infrastructure and those parts close to the market were clearly separated.

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