The shareholders of A1 Telekom Austria, América Móvil and ÖBAG, have agreed to support the spin-off of the Austrian telco’s transmission towers.
In line with international best practices, the separation of the passive infrastructure from the telecom business will enable a more efficient capital allocation and greater capacity at Telekom Austria to expand its overall investment in Austria, according to an ÖBAG statement.
The tower company will be managed independently, permitting it to take advantage of additional business and growth opportunities, benefitting stakeholders as tower duplications and costs for expansion will be reduced, adds ÖBAG.
Preparations to implement the tower agreement will start after approvals in the relevant bodies, including the supervisory board and AGM of Telekom Austria and the next supervisory board of ÖBAG.
The core shareholders have no plans to change the ownership structure of the tower company and intend to list its shares on the Vienna Stock Exchange. The framework to be set for the tower company shall ensure Telekom Austria’s and other third-party operators access to the passive telecommunications infrastructure to be spun off, underlines ÖBAG.
At the same time, América Móvil (AMX) and ÖBAG renewed their shareholder agreement for an additional 10-year period. AMX, owned by Mexican billionaire Carlos Slim, took over the majority stake in Telekom Austria in 2014. The company owns 51% of the shares. ÖBAG, a holding owned by the Austrian state, has a 28.42% stake.
The shareholders aim to maintain and reinforce Telekom Austria’s leading position in the Austrian telecom market as well as further expand its capabilities in Central and Eastern Europe, according to ÖBAG.
In this regard, and subject to the completion of the tower spin-off, the shareholders have formalised their agreement on a continued investment programme with a total value of €1 billion for Austria to accelerate the expansion of high-speed connectivity infrastructure, particularly fibre roll-out which started in 2022.
“The agreement highlights the long-term perspective and the stability of our partnership with AMX and aligns with the interests of the Republic of Austria,” ÖBAG CEO Edith Hlawati said in Vienna. “The investment commitment clearly shows that the expansion of the infrastructure is of great importance for the two major shareholders. We see it as a big success to have been able to extend the fruitful collaboration with our Mexican partners for ten more years.”
Carlos García Moreno, CFO of América Móvil, added: “Telekom Austria is a core investment for América Móvil. We are very satisfied with the overall development of the company, a top performer amongst its European peers over the last several years. We are pleased to continue our strong and fruitful partnership with ÖBAG.”
