America Movil, Telekom Austria tie-up gathers steam

30 Jun 2014

The previously disclosed Telekom Austria Group shareholder pact – between Austrian state holding company Osterreichische Industrieholding AG (OIAG) and Mexican telecoms giant America Movil (AM, acting through its wholly owned subsidiary Carso Telecom) – is now unconditional, the Vienna-based company has confirmed, paving the way for AM to snap up the company’s outstanding shares.

As agreed in April this year, the offer price is EUR7.15 (USD9.58) per share, and remains open until 10 July 2014. As per the agreement, AM must launch a public takeover offer pursuant to the Austrian Takeover Act, for all outstanding Telekom Austria shares not held by AM, Carso Telecom or OIAG. Going forward, following the acquisition of the outstanding shares, AM will assume control of ‘operational responsibilities’ at the Austrian telco.

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