Orascom interest in Telekom Austria

9 Sep 2008

Orascom Telecom Holding of Egypt is reportedly interested in taking a stake in Austria’s dominant wireline and wireless operator, Telekom Austria. Though both parties have denied that negotiations are taking place, the Austrian newspaper Kurier cites unnamed sources which claim that talks are already under way. The discussions have also involved Austria’s state holding company, OIAG, which has a 28% stake in the telco. The deal would take place via a share swap, the paper suggests, with OIAG retaining a stake in an entity created through the merger of Orascom and Telekom Austria.