America Movil To Buy 21% Stake In Telekom Austria By Year End
June 15 2012 - 4:03AM
Dow Jones News
Mexican company America Movil (AMX.MX ) Friday said it agreed
with RPR Privatstiftung's unit Marathon Zwei Beteiligungs GmbH to
acquire around 21% of the outstanding shares of telecommunications
company Telekom Austria AG (TKA.VI).
MAIN FACTS:
-On Friday, America Movil acquired around 5% of outstanding
Telekom Austria shares and will buy an additional 16% stake by end
of 2012, after it receives governmental approvals and other
required authorizations.
-With the additional 5% stake, America Movil's total interest in
Telekom Austria increased to 6.7% on Friday, and once it buys the
16% stake, the total interest will rise to around 23%.
-America Movil said the acquisition positions it as a long-term
strategic partner of Telekom Austria and is part of its geographic
diversification strategy, allowing for an attractive presence in
Central and Eastern Europe.
-Write to the Frankfurt Bureau at
djnews.frankfurt@dowjones.com
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