America Movil Has 4.1% Stake in Telekom Austria - Report

Date : 06/05/2012 @ 3:04PM
Source : Dow Jones News
Stock : America Movil, S.A.B. de C.V. American Depository Receipt Series L (AMX)
Quote : 17.75  0.0 (0.00%) @ 4:00AM

America Movil Has 4.1% Stake in Telekom Austria - Report

America Movil (NYSE:AMX)
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Mexican telecommunications company America Movil SAB de CV (AMX) has a stake of about 4.1% in Austrian peer Telekom Austria AG (TKA.VI), News magazine reports Tuesday on its website.

Telekom Austria supervisory board member Ronny Pecik, who holds about 20% in the company through his RPR Privatstiftung, plans to pool his stake with America Movil's, the Austrian magazine reports.

Pecik will sell his stake for almost 900 million euros ($1.13 billion) to a new company with the preliminary name Amov, and America Movil will also transfer its stake to Amov, News says. America Movil will hold an 80% stake in Amov and RPR Privatstiftung 20% of the company which will own almost 25% of Telekom Austria.

Spokespeople for America Movil and Telekom Austria declined to comment.

Telekom Austria shares closed 4.3% higher following the report.

Full article:

http://www.news.at/articles/1223/510/329977/telekom-austria-geheimprojekt-tonga

Write to the Frankfurt Bureau at frankfurt.priority@dowjones.com

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