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


Events for April
M T W T F S S
31 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 1 2 3 4
Add your event FREE

Today

Videos



BurgKino

Pub Quiz everyTuesday at Johnny's Pub

Popular in Austria

Smell Stop

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!




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


Latest News

 

Faymann warns against further Russia sanctions
Chancellor Werner Faymann has spoken out in support of moving away from additional sanctions on Russia.

What is on at Haydn Kino this week? (24 April - 30 April)
The following films are on at the English language cinema Haydn Kino on Mariahilfestrasse between 24 April and 30 April:

Gazprom to explore expanding pipeline in Austria
Russia could soon begin constructing their South Stream gas pipeline in Austria after meetings were held this week with Gazprom.

Poacher in Vienna shoots five deer with bow and arrow
A poacher is suspected to have killed five animals in Vienna using a bow and arrow, a hunting weapon that is forbidden throughout Austria.

Czech firm in the proverbial over dung parcel terror alert in Austria
A Czech mail order company that sends elephant poo around the EU could be faced with a hefty bill after a package of dung sparked a terror alert at an Austrian town hall.

Model helicopter chops up owner
Austrian model aircraft enthusiast Uwe E., 50, is in intensive care after he tried to catch his expensive model helicopter when it suddenly dropped out of the sky in the town of Krenglbach in Upper Austria, and he was badly chopped up by the rotor blades.

ORF Watch To Probe State Broadcaster
Nine Austrian journalists, including the author of this article which is one of many published on my Tagebuch (diary), have got together to create a new website www.ORF-Watch.at.

Julius Meinl expands to UK
Austria's prestigious coffee brand Julius Meinl is launching its famous product in the UK, with the hope of challenging the British culture of taking coffee to go.

Indestructible Armoured Police Tank Damaged By Eggs And Tennis Balls
An Austrian manufacturer of a high-tech anti-riot water cannon costing almost 1 million EUR is facing some tough questions after one of the vehicles was badly damaged during a demonstration that involved eggs and tennis balls.

Wiener Linien grinds to a temporary halt Wednesday morning
Vienna's public transport will grind to a halt between 4 am and 6.30am on Wednesday morning as unions hold an emergency meetings to discuss the safety of Wiener Linien staff.

 


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