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



BurgKino

Pub Quiz everyTuesday at Johnny's Pub

Popular in Austria

Cosmo&Nanu

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


Latest News

 

Schools Ordered To Save, But Also To Buy Expensive Scales
Austria's embattled finance ministry has been dragged into a new scandal after it emerged that at the same time as demanding schools save 57 Millionen Euros, they were also expected to find an additional 3 million to buy an approved set of weighing scales.

OAP Hunts Down THIS Hit And Run Cyclist
Does anyone recognise this cyclist? If so you can get yourself 200 euros, and do a good deed in the process.

Property price rise continues
The price of property in Vienna has now spiralled so much that every 4th apartment comes with a price tag of 500,000 or more. And every second flat costs 300,000 or more.

Free Staff For One Person Companies - But Only In NÖ
Since the beginning of the year one-man-companies, the so called "Ein-Personen-Unternehmen" in Lower Austria have been entitled to help in the form of a free assistant.

What is on at Burg Kino this week? (18 April - 24 April)



This week at the Burg Kino on the Opernring the following films are showing:





Austria Accused Of Ignoring Giant Nazi Swastika
A huge swastika that has scarred the walls of an Austrian castle for the past 80 years is still on view despite breaching strict postwar rules banning all Nazi symbols.

Jetflyers Take The Jet Ski Onto The Road
An Austrian company is making waves after they came up with the idea of taking a jet ski – and fitting it with wheels.

Nuns invite young women to get a taste of Abbey life
In a bid to revive their Austrian abbey that doubles up as a health resort, a group of nuns are inviting young women to come and stay with them to get a taste of nun life.

Austrian women earning over fifth less than men
Austrian women are earning on average 23.4 percent less than men in the country, according to Statistik Austria.

Exploring photography and art through 1960s cult film Blow-Up
Vienna's Albertina is putting on an photography exhibition featuring stills from the cult sixties photography film Blow-Up by Michelangelo Antonioni.

 


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