America Movil agrees to trim Telekom Austria stake

29 Jul 2016

Mexican telecoms giant America Movil (AM) has announced that it has agreed to the sale of shares in Telekom Austria – corresponding to 7.80% of voting rights – to the market. The sale will reduce AM’s overall stake in the Austrian telecoms group from 59.70% to 51.89%. Reuters reports that when the Mexican firm took control of Telekom Austria in July 2014, it agreed to increase the free float of the former state monopoly to roughly 20% within two years.

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