The Austrian People’s Party (OVP), one half of Austria’s coalition government, is reportedly considering offloading the state’s 28.42% stake in incumbent Telekom Austria.
The OVP could seek to sell off the government’s stake in the telecoms…
The Austrian People’s Party (OVP), one half of Austria’s coalition government, is reportedly considering offloading the state’s 28.42% stake in incumbent Telekom Austria.
The OVP could seek to sell off the government’s stake in the telecoms group, alongside other assets it holds in the country’s post office and energy company OMV, reported local paper WirtschaftsBlatt citing Party chairman Karlheinz Kopf.
However, the Social Democratic Party of Austria (SPO) – the other member of Austria’s coalition government – would reportedly oppose such privatisations.
A spokeswoman for Telekom Austria was unable to comment on the remarks, saying it was a political decision.
Meanwhile, OVP parliament member Wolfgang Schuessel, a former Austrian chancellor, reportedly plans to resign on 9 September amid corruption accusations linked with Telekom Austria.
The operator announced plans on 2 September to set up an independent panel to investigate issues including allegations of stock price manipulation.
Announcing the move, Telekom Austria chairman Markus Beyrer stated: “We will examine and make an issue of all topics for a complete clarification. The Supervisory Board has established clear cut organisational principles for the comprehensive examination of all data and facts. Now a fast and professional execution is requested, paying attention to a well-balanced cost-benefit ratio.”
The company plans to publish a final report on its investigation in Q2 2012.
TelecomFinance understands that local law firm Fellner Wratzeld is advising the company on the matter.
The OVP and SPO were unable to comment before the press deadline.
