State searches for Telekom partner

7 Oct 2008

The Austrian state holding company OIAG has hired JP Morgan to find suitable merger partners for the country’s dominant wireline and wireless operator, Telekom Austria, in which the state has a 27.4% interest. Prospective partners include Orascom of Egypt, with firms from Russia and the Middle East also in the frame, Reuters reports quoting a story in local newspaper Der Standard. The paper claims that Orascom is seen as the most suitable candidate, although Russian cellco Vimpelcom and industrial group Sistema are also named.

Austria, A1 Telekom Austria Group