Telekom Austria's Top Shareholders Agree to Spin off Mobile-Towers Business
February 07 2023 - 2:04AM
Dow Jones News
By Ed Frankl
Telekom Austria AG said late Monday that its main shareholders
have agreed to support a spin off of its mobile-towers
business.
The Austrian telecoms company said its two main shareholders,
Carlos Slim's America Movil SAB and Austrian state holding company
OeBAG, agreed to support the spinoff, which would be listed on the
Vienna Stock Exchange and shares distributed proportionally to
Telekom Austria's shareholders.
A decision about the spinoff is subject to all relevant
corporate approvals, the company said.
The two main shareholders also agreed to renew their syndicate
agreement for a term of 10 years, including changes to the
management board once the current term expires, Telekom Austria
said.
America Movil holds 51% and OeBAG 28% of the company, according
to Telekom Austria's corporate website.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
February 07, 2023 01:49 ET (06:49 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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