VIENNA, July 31 (Reuters) – Austrian President Heinz Fischer
has signed a law that will wipe out the claims of subordinated
debt holders in nationalised bank Hypo Alpe Adria,
his office said on Thursday.
Fischer said he had concerns about the law, which enters
uncharted territory for debt markets because the creditors had
guarantees from Hypo’s home province, but had to sign it to free
the way for Austria’s constitutional court to examine it.
VIENNA, July 24 (Reuters) – Private equity firm Advent
International and a Bulgarian-Russian consortium led by
businessman Denis Barekov are favourites to buy Hypo Alpe
Adria’s Balkan bank network, two sources familiar with the
Hypo, which had to be nationalised by Austria in
2009 after a period of unsustainable expansion in the former
Yugoslavia, is selling off its Balkan network, its prime asset,
while hiving off its toxic assets into a bad bank.
FRANKFURT/VIENNA (Reuters) – Talks for Austrian chipmaker AMS (AMS.S: Quote, Profile, Research, Stock Buzz) to buy German peer Dialog Semiconductor (DLGS.DE: Quote, Profile, Research, Stock Buzz) have collapsed, with the two firms blaming differences over price and future strategy.
Dialog and AMS said last month they were in “very preliminary” talks over a deal that could have created a European chipmaker with a market value of about $4.7 billion, and potentially a stronger business to tap the burgeoning market for web-connected devices. AMS makes electronic sensors, which can measure everything from air pollution to the human heartbeat, while Dialog’s chips manage power consumption. Both firms supply chips to Apple (AAPL.O: Quote, Profile, Research, Stock Buzz) for iPhones and iPads.
ABU DHABI/VIENNA, June 26 (Reuters) – Russia’s Gazprom
is in talks to buy Abu Dhabi’s 24.9 percent stake in
Austrian oil and gas firm OMV, a source familiar with
the talks told Reuters on Thursday.
“Talks were held but they have yet to decide on pricing,”
the source said, confirming comments from an Austrian member of
parliament, who told Kurier newspaper and Reuters he had
“concrete indications” that Abu Dhabi fund IPIC and Gazprom had
held discussions on the issue.
VIENNA, June 25 (Reuters) – Austrian lighting group
Zumtobel’s fourth-quarter sales rose by a higher than
expected 8 percent, it reported on Wednesday, thanks to strong
growth in Asia, recovery in Europe and a fundamental
Despite posting a net loss due to restructuring charges,
Zumtobel also raised its dividend to 0.18 euros ($0.24) per
share for the year ended April 30, up from 0.07 euros last time
and ahead of the 0.13 euros average forecast given by analysts
in a Reuters poll.
VIENNA (Reuters) – Austria gave its final approval to a controversial Russian gas pipeline project on Tuesday, defying EU officials and welcoming Russian President Vladimir Putin to the neutral country that has been a long-standing energy customer for Moscow.
The chief executives of Russia’s Gazprom and Austria’s OMV sealed the deal to build a branch of the South Stream gas pipeline to Austria, a staunch defender of the project in the face of opposition from the European Commission.
VIENNA, June 24 (Reuters) – Russia’s Gazprom is in
constructive talks with the European Commission about its
disputed South Stream gas pipeline, its chief executive said
after signing a deal on Tuesday with OMV to extend a
branch to Austria.
Alexei Miller said he was in weekly if not daily contact
with European Energy Commissioner Guenther Oettinger. “We solve
problems as they come up, and now the problem of construction of
the pipeline is to be solved,” Miller told a news conference.
VIENNA, May 30 (Reuters) – Austrian Airlines called off pay
talks with cabin crew and pilots on Friday, after its works
council rejected a wage offer and reminded the airline it could
strike at any time.
The airline, a unit of Germany’s Lufthansa, said
there was no basis for further talks and withdrew its offer,
which it had hoped would break a years-long stalemate and create
the certainty needed to allow investments in its fleet.
VIENNA (Reuters) – America Movil (AMXL.MX: Quote, Profile, Research, Stock Buzz) aims to hold only a slim majority of shares in Telekom Austria (TELA.VI: Quote, Profile, Research, Stock Buzz) following a $2 billion takeover offer, its finance chief said on Wednesday.
America Movil, which owns 27 percent of Telekom Austria, has offered to buy the shares not already owned by it or the Austrian state, which has 28 percent, to take control of the Austrian operator it wants to turn into an eastern European hub. Carlos Garcia Moreno said America Movil would buy all shares tendered in its 7.15 euros-per-share offer that runs until July 10, but would sell back as many as necessary over the next two years to ensure at least 24 percent of the company remains in the market.
VIENNA/BRUSSELS, (Reuters) – Netflix will launch in both France and Germany this year, the U.S. video streaming company said on Wednesday, in the biggest test so far of its global expansion strategy.
The move will set Netflix back in its goal of breaking even in its international business, which it would have achieved later this year, as it bets the time is right to break into Europe’s two biggest markets and four other European countries.