Telekom Austria poised to issue new stock to fund spectrum auction

28 Aug 2013

Telekom Austria Group is reportedly planning to issue new stock worth around EUR500 million (USD668.5 million) to fund its acquisition of Long Term Evolution (LTE) spectrum in next month’s government auction. According to Der Standard both of the company’s major shareholders – Carlos Slim’s America Movil (AM, 22.76%) and state owned holding group OIAG (28.42%) – are broadly in favour of the plan, and intend to maintain their respective stakes in the company. Rudolf Kemler, head of OIAG, commented: ‘The capital need is not decided yet but I do not intend to allow the OIAG stake to be diluted’.

Austria, A1 Telekom Austria Group