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


Events for March
M T W T F S S
23 24 25 26 27 28 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 5
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!

Your comment to this article :

(will be approved by an editor before going online)

  • Not for publication:
  • How many vertical lines or which Text (from left to right) do you see in this image:

Cosmo and Nanu
ORF Watch

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

Latest News

 

Semmering Offers 50% Discount To Selected Heroes
The Magic Mountain Semmering will hold two Weeks of Heroes from 1st to 14th March as Panhans Holding Group says thank you to safety and well-being volunteers and professionals.

Skier Survived Almost Two Hours Buried Alive
A skier had a miracle escape after being buried under two metres of snow for nearly two hours during an avalanche in Austria, it was revealed last night.

Puppies Found Stuffed Inside Suitcase In Back Of Van
A litter of puppies destined for a dog farm was rescued after being found stuffed inside suitcases in the back of a van.

Kangaroo That Hopped It Spotted In Garden
Austrian police investigating reports of an escaped kangaroo have been given concrete proof after a local woman managed to photograph the animal in her back garden.

First Images Of Eurovision Stage
These are the first images of the design for the Eurovision Song Contest stage unveiled in the Austrian capital Vienna which is the home of last year's winner Conchita Wurst.

Russian Mafia Boss Nabbed At Vienna Railway Station
A Russian mobster wanted for a string of brutal murders was arrested in the gentile Austrian capital Vienna when commandos swooped as he went to buy a train ticket.

Teen Girls Arrested After Offering Themselves To IS Fighters
Austrian officials who recently cracked down on terrorism by arresting several people believed to be recruiting and fundraising for ISIS have revealed two more teenage girls tried to leave the country to marry terrorist fighters.

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.

 


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