Friday, 18. April 2014
31. 01. 14. - 13:00
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.
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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
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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
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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.