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America Movil says holds almost 60 percent in Telekom Austria
October 20, 2014 / 9:52 PM / 3 years ago

America Movil says holds almost 60 percent in Telekom Austria

The logo of America Movil is seen on the wall of the reception area in the company's corporate offices in Mexico City February 13, 2013. REUTERS/Edgard Garrido

MEXICO CITY (Reuters) - America Movil, Latin America’s biggest phone company, on Monday said it holds nearly 60 percent of Telekom Austria after its extended offer for the Austrian company closed last week.

The purchase increases the sway billionaire businessman Carlos Slim holds over the Austrian phone company, after the initial offer period saw Slim’s America Movil (AMXL.MX) take control of Telekom Austria (TELA.VI) in July.

America Movil (AMXL.MX) acquired an additional 8.68 percent, or 38,436,668 shares, in the extended offer period that closed on Oct. 16, according to a statement filed with Mexico’s stock exchange.

That brought the Mexican company’s stake in Telekom Austria via direct and indirect holdings to some 59.7 percent, it said.

America Movil became the majority owner of Telekom Austria through a billion-dollar takeover offer in July that marked Slim’s first successful venture into operating in Europe after a failed takeover attempt of Dutch phone company KPN.

Telekom Austria plans to launch a billion-euro capital increase before the end of the year to fund expansion efforts.

America Movil has said it wants to use Telekom Austria as a base for further expansion into central and eastern Europe, where Telekom Austria already has operations in six countries including Bulgaria and Croatia.

Reporting by David Alire Garcia and Elinor Comlay; Editing by David Gregorio

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