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Carlos Slim takes over majority in Telekom Austria

July 15, 2014 22.51 Europe/London By Jörn Krieger

Mexican billionaire Carlos Slim has taken over the majority stake in Austria’s national telco Telekom Austria.

Slim has increased his shareholding from 27.2% to 50.8%, according to his mobile network company América Móvil. The Mexican entrepreneur paid €7.15 per share, 10% more than the relevant stock market value.

The Austrian state will reduce its interest to a blocking minority of at least 25% plus one share. At least 24% of the shares will remain in free flow on the stock market.

Telekom Austria has 23 million customers in Austria as well as in Slovenia (Si.mobil), Croatia (Vipnet), Serbia (Vip mobile), Macedonia (Vip operator), Bulgaria (Mobiltel), Belarus (velcom) and Liechtenstein (mobilkom liechtenstein).

América Móvil, Latin America’s largest mobile network operator, wants to establish a foothold in Europe through its stake in Telekom Austria. The Mexican company which is also a shareholder in Dutch telco KPN plans to use Telekom Austria as a platform for further acquisitions in Central and Eastern Europe, according to industry sources.

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Filed Under: Newsline, Platforms Tagged With: America Movil, Carlos Slim, majority, Telekom Austria Edited: 15 July 2014 22:51

About Jörn Krieger

Jörn reports on the latest developments in Germany, Austria and Switzerland. Since 1992, he has been working as a freelance journalist, specialised in digital media, broadcast technology, convergence and new markets. He also takes up University lectureships, writes articles in specialist publications, and produces radio reports. Jörn is also a moderator of panel discussions at industry events such as ANGA COM, Medientage München and IFA Berlin.

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