The head of the state-owned holding company that is Telekom Austria’s (TA) largest shareholder has suggested that the government would allow Carlos Slim’s America Movil (AMX) to take a majority stake in the incumbent operator.
Rudolf Kemler, who is…
The head of the state-owned holding company that is Telekom Austria’s (TA) largest shareholder has suggested that the government would allow Carlos Slim’s America Movil (AMX) to take a majority stake in the incumbent operator.
Rudolf Kemler, who is also TA’s chairman, was quoted telling an Austrian radio station that for Osterreichische Industrieholding (OIAG), it was most important to retain a 25% blocking minority stake.
He went on to say that whether Carlos Slim overtakes OIAG by a few percentage points or by acquiring more than 50% of the operator was a “secondary question”.
Earlier this month, AMX upped its voting rights in TA to 26.8119%, crossing the 25% threshold requiring notification under Austrian law.
Mexico-based AMX’s indirect subsidiary Carso Telecom concluded a conditional purchase agreement with Inmobiliaria Carso and Control Empresarial de Capitales to acquire 13.9 million share in TA, equal to a 3.14% stake, the Austrian incumbent said in a statement.
Previously, AMX directly and indirectly held 23.674% of TA’s voting rights. Speculation is growing that the Latin American giant will move to take over the Vienna-based operator.