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.
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