AM, OIAG could sign Telekom Austria deal by May

26 Feb 2014

A shareholder pact between Carlos Slim’s America Movil (AM) and Austrian state holding company OIAG to pool the duo’s shares in Telekom Austria Group could be completed in time by the end of May. According to Reuters, which cites local paper Die Presse, Austria’s economy minister said that a syndicate deal with the Mexican group could be completed within weeks, paving the way for a takeover offer for other shareholders. A timetable for the partnership has reportedly been hammered out, with the pair anticipating signing off on the deal before the Telekom Austria’s annual general meeting on 28 May. The syndicate would hold around 55% of the group, 25.81% from AM and 28.42% from OIAG.

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