By Nicole Lundeen
VIENNA--Austrian telecommunications Telekom Austria AG (TKA.VI) welcomes the entrance of Mexico's American Movil SAB (AMX) as a shareholder, Telekom Austria said Friday in a statement.
"We welcome the new investor America Movil, one of the biggest and most successful telecommunication companies in the world. As a strategic and long-term investor, the company [America Movil] with its know-how and knowledge of the industry will contribute to our company's economic success," said Telekom's chief executive, Hannes Ametsreiter.
America Movil officially holds 4.96% in Telekom Austria, but has agreements to purchase a further 20.96% from investor Ronny Pecik. Pecik holds just over 20% in Telekom Austria through his companies Marathon Zwei Beteiligungs GmbH and RPR Privatstiftung.
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