Slim bulks up Telekom shareholding after Pecik, Sawiris stake sale gets all-clear

26 Sep 2012

Telekom Austria Group has announced that Mexican billionaire Carlos Slim now officially holds 22.76% of its equity – directly and indirectly – after the successful completion of a previously announced stock purchase agreement between Netherlands-based America Movil Europa and RPR Privatstiftung – an investment vehicle operated by Viennese tycoon Ronny Pecik and his Egyptian partner Naguib Sawiris. The deal, which was for a 16.01% stake in Telekom, supplements an existing 6.75% stake which Slim obtained through various holding companies.

As previously reported by TeleGeography’s CommsUpdate, Austria’s Finanzmarktaufsichtsbehorde (Financial Market Authority, FMA) is currently reviewing whether to approve the status of Slim as a major Telekom shareholder. Because the company owns a banking subsidiary, the FMA needs to review whether anyone who builds a stake of more than 10% is ‘fit’ to be a major shareholder.

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