State lowers Telekom stake

11 Oct 2006

Austria’s state privatisation agency, Oesterreichische Industrieholding AG (OIAG), has reduced its stake in Telekom Austria to 25.2% with the sale of one million shares on the stock exchange. EUR325 million (USD408 million) of bonds issued in 2003 were exchangeable for 25 million Telekom Austria shares. 24 million of these were exchanged in June this year, lowering OIAG’s interest in the telco from 30.2% to 25.4%.

Austria, A1 Telekom Austria Group