Austrian Investor Pecik Holds Over 15% Of Telekom Austria

Date : 11/28/2011 @ 5:30AM
Source : Dow Jones News
Stock : Turkcell Iletisim Hizmetleri As (TKC)
Quote : 8.63  -0.19 (-2.15%) @ 4:03PM

Austrian Investor Pecik Holds Over 15% Of Telekom Austria

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Austrian investor Ronny Pecik holds over 15% of Telekom Austria AG (TKA.VI), the company said over the weekend.

Pecik informed Telekom Austria that he, through his company RPR Privatstiftung, now holds directly and indirectly 15.81% of Telekom Austria. Back in October, the investor had secured options for around 5.5% of Telekom Austria.

Last week, Austrian magazine Format named the Russian telecommunications company VimpelCom Ltd. (VIP) and the Turkish telecommunications company Turkcell Iletisim Hizmetleri AS (TCELL.IS) as possible buyers. Both companies are part of the Russian Alfa Group Consortium.

The Austrian state, through its holding company Oesterreich Industrieholding AG, or OeIAG, holds a 28% share in the company. OeIAG said over the weekend it was a "stable core shareholder" in Telekom Austria and it was aware of the change in the company's shareholder structure.

Recently, the Austrian government took steps to pass a law that would limit the ability of foreign investors to take over strategic Austrian companies. The law, which is expected to come into effect in mid-December, requires non-European Union or non-Swiss investors to seek approval from Austria's economics ministry if they want to buy more than 25% of companies such as Telekom Austria and the oil group OMV AG (OMV.VI).

Telekom Austria has a market capitalization of EUR3.6 billion.

-By Juergen Hesse and Nicole Lundeen; Dow Jones Newswires; +43 1 513 69 2210, nicole.lundeen@dowjones.com




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