Telekom Austria Shares Rise After Shareholder Support for Mobile-Tower Business Spinoff
February 07 2023 - 4:11AM
Dow Jones News
By Pierre Bertrand
Telekom Austria AG shares rose Tuesday after the company said it
received shareholder support to spin off its mobile-towers
business.
At 0832 GMT shares traded 5.5% higher to EUR6.55.
The Austrian telecoms company said late Monday that America
Movil SAB and Oesterreichische Beteiligungs AG had agreed to
support the spinoff of the business into a separate company on the
Vienna stock exchange.
The company's two main shareholders also agreed to renew their
syndicate agreement for another 10 years.
A decision about the spinoff is subject to relevant corporate
approvals, Telekom Austria said.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
February 07, 2023 03:56 ET (08:56 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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