Carlos Slim increases stake in Telekom Austria

Mexican billionaire Carlos Slim has increased his stake in Telekom Austria, from 51 percent to 59.7 percent, he informed the Mexican stock exchange on Monday.

Carlos Slim increases stake in Telekom Austria
Carlos Slim. Photo: APA (Archiv/epa)

His company, America Movil, has controlled Austria's largest telecommunications company since July.  

The second largest shareholder remains Austria's state holding company ÖIAG, which retains its 28.4 percent stake.  

Slim offered other shareholders 7.15 per share, and extended the deadline for the offer up to Thursday of last week.

The largest telecommunications company in Latin America, America Movil plans to use Telekom Austria as a base to grow into Eastern Europe.

Telekom Austria plans this year to make a capital increase in order to finance the expansion, among other activities.  

The Austrian company sustained significant losses in the first half of this year.

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.