Telekom Austria plans to spin off its tower business through a listing on the Vienna stock exchange in the second half of the year.
It follows an agreement reached by the company’s core shareholders and Supervisory Board of Telekom Austria AG at its last meeting.
The company will be named EuroTeleSites AG with an initial ownership structure in line with the current ownership structure of Telekom Austria AG. It 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,
The transaction is due to be approved by Telekom Austria’s shareholders at an extraordinary general meeting on August 1, 2023.
