America Movil swoops for minor Telekom Austria stake

6 Jun 2012

Pan-Latin American telecoms giant America Movil (AM), which is owned by Mexican tycoon Carlos Slim, has purchased a 4.1% stake in the Telekom Austria Group, Reuters reports. On Tuesday Oscar Von Hauske, head of fixed operations at AM, took steps to confirm Austrian media reports that the company had built up the minor stake ‘through the market’. Von Hauske added: ‘Telekom Austria is a company that we have been looking at for some time’. However Von Hauske, who spearheaded AM’s expansion in Latin America, confirmed that he has not held personal talks with fellow Telekom stakeholder Ronny Pecik, or his investment partner, Egyptian billionaire Naguib Sawiris. The duo staged a so-called ‘hostile takeover’ of the Austrian group late last year, acquiring a 20.118% stake through Pecik’s RPR Privatstiftung investment vehicle.

Austria, A1 Telekom Austria Group, America Movil (AM)