America Movil’s (AMX) €1.43bn (US$1.95bn) public takeover offer for all outstanding shares in Telekom Austria (TA) has gone unconditional now its shareholder agreement with state holding OeIAG has taken effect.
All conditions precedent to the offer…
America Movil’s (AMX) €1.43bn (US$1.95bn) public takeover offer for all outstanding shares in Telekom Austria (TA) has gone unconditional now its shareholder agreement with state holding OeIAG has taken effect.
All conditions precedent to the offer were fulfilled on 27 June, making it mandatory as of today (30 June), the Austrian incumbent said in a statement. The terms and conditions of the €7.15 per share offer remain the same.
Carlos Slim’s AMX and OeIAG agreed in April to pool their respective 26.8% and 28.4% stakes in TA, triggering the public takeover bid under Austrian law. TA shareholders have until 10 July to accept.
The shareholders pact, which gives Mexico-based AMX operational control of the company, received regulatory approval in Austria, as well as in seven other markets in which TA operates, earlier this month.
