Austrian Times RSS FeedsLike the Austrian Times Facebook page!Follow us on Twitter!


Events for December
M T W T F S S
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4
Add your event FREE

Today

Videos


BurgKino

Pub Quiz everyTuesday at Johnny's Pub

Popular in Austria


Cosmo&Nanu

Rumoured takeover of Telekom Austria by Carlos Slim

Mexican billionaire ambitious for Telekom Austria ownership

By Maddy French

Control of Telekom Austria could soon be in the hands of Mexican businessman Carlos Slim as rumours spread over his ambition to put in a bid for majority ownership.

Billionaire Slim's telecommunications company America Movil already owns 26.8% of the Austrian company after Slim consolidated shares owned by his family foundation and his company earlier this year.

Now it's rumoured he is looking to gain a 30% stake which is the threshold needed in order to put a bid for majority ownership

"I expect Slim to make an offer for the majority of the company sooner or later," said one source familiar with the matter. "It could be in two weeks or six months."

Chief Executive of Telekoms Austria Hannes Ametsreiter has said that it has not been brought up in board conversations the company has with America Movil but that the two companies have had a good relationship from the start.

This is not the first attempt at claiming a bigger stake in the European telecommunications market. Slim has already tried and failed to gain a majority stake in Dutch company KPN last year and earlier in Telekoms Italia in 2007.

After the KPN incident, Slim is looking to work closer with the Austrian government, who currently own 28% of the shares, in discussions about gaining a majority stake in the company. The government have committed to maintaining the 25% share needed to as a blocking minority.

One avenue they could take would be to combine their respective shares, enabling the Austrian state to maintain some control of decisions made about the future of Telekom Austria. However this is said to only have had a lukewarm reception from American Movil, who have previously stated they have no plans for a hostile takeover of the company.

Austrian Times


Are you on Facebook? Like the Austrian Times on Facebook and win great prizes!


Cosmo and Nanu
ORF Watch

Tag cloud:
committed  Movil  gaining  currently  Italia  America  Mexican  ownership  discussions  billionaire  government  telecommunications  stake  Austria  incident  blocking  Telekom  gain  majority  minority

Latest News

 

Ebola's deadly reach impacts Vienna student
Austria has yet to record its first case of Ebola, but the feared virus has already had a severe impact on the lives of Africans living in Vienna.

Grigorij Sokolov Works His Magic At Vienna Konzerthaus
Whilst the world-famous Wizard of Oz played at the Volksoper, there was another Wizard in the Konzerthaus giving his 16th performance in Vienna!

Penelope Cruz To Play The Ice Cream Killer
The memoirs of the woman dubbed the Ice Cream Killer after she shot dead two ex-lovers before hacking the bodies up with a chainsaw and telling neighbours the noise was a new ice cream machine are due to be turned into a blockbuster with Penelope Cruz playing the lead role.

Kid Left In Coma After Beaten By Teacher For Talking
This is the shocking image of a little Chinese girl before and after she was punished by her teacher - for talking in class.

Freezing Rain Causes Chaos In Central Europe
Freezing weather has arrived in Europe with a vengeance with a layer of ice blanketing parts of Austria, Germany and the Czech Republic and causing traffic chaos.

Holey Smoke As Car Disappears Down Sinkhole
Motorist Wei Hsiao found himself in a hole lot of trouble in China when a giant sinkhole opened up on the road beneath him, swallowing his entire car.

Shock Moment Police Helicopter Explodes On Street
This is the moment a police helicopter exploded into a spinning ball of flame in Chile when a fire truck clipped one of its rotors.

More Than Twenty 100,000 GBP Motors Used In Bridal Convoy
A Chinese couple who wanted to have the most expensive wedding convoy possible arranged for a convoy of top of the range cars including a stretch Hummer followed by Lamborghinis, Porsches and other VIP motors.

Riot Police Star In Downs Syndrome Calendar
Spanish riot police have joined forces with Down's syndrome kids to take part in a special calendar for charity.

Chinese Nuclear Winter Smog Leaves Clinics Full
Fresh proof of Chinese scientists' claims that the country's toxic air pollution resembles a nuclear winter are shown by these images that show clinics and hospitals packed with patients suffering with trouble breathing.

 


Mala Vrata

The most popular stories –
last 7 days



Don't moan alone, the Ombudsman Investigates.

Why suffer in silence. Let off steam by letting our readers share your troubles. File your complaints about anything and everything here.

Our ombudsman David Rogers will try and help solve some of the problems from lazy civil servants through to incompetent companies – and at the very least the worst transgressors will end up in our weekly special report.


Austrian Zimmers