European Technology, Media and Telecoms Correspondent
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Apr 24, 2014

Slim seeks to build Telekom Austria into European player

VIENNA (Reuters) – Mexican tycoon Carlos Slim plans to use Telekom Austria as a base to build a European telecommunications network after sealing an eleventh-hour deal with the Austrian state to take control of the company.

Slim’s America Movil will invest up to 1 billion euros (821.42 million pounds) in Telekom Austria via a rights issue, on top of spending as much as $2 billion to buy out minority shareholders in a mandatory public offer.

Apr 24, 2014

Slim to build Telekom Austria into European player

VIENNA, April 24 (Reuters) – Carlos Slim plans to use
Telekom Austria as a base to build a European telecoms
network after sealing an eleventh-hour deal with the Austrian
state to take control of the company.

Slim’s America Movil will invest up to 1 billion
euros ($1.38 billion) in Telekom Austria via a rights issue, on
top of spending as much as $2 billion to buy out minority
shareholders in a mandatory public offer.

Apr 24, 2014

Mexico’s Slim, Telekom Austria reach ownership deal

VIENNA/MEXICO CITY (Reuters) – Mexico’s Carlos Slim struck an 11th-hour deal on Wednesday with the Austrian government that could give him control of Telekom Austria and allow the multi-billionaire to consolidate his foothold in Europe as he expands outside the Americas.

Slim’s telecoms group, America Movil (AMXL.MX: Quote, Profile, Research, Stock Buzz), agreed to back a 1 billion euro capital increase for Telekom Austria (TELA.VI: Quote, Profile, Research, Stock Buzz) and to pay 7.15 euros a share for the company’s outstanding stock, in a co-ownership deal combining its stake with that of Austrian state holding company OIAG.

Apr 23, 2014

Mexico’s Slim reaches deal for control of Telekom Austria

VIENNA/MEXICO CITY (Reuters) – Mexico’s Carlos Slim struck an 11th-hour deal on Wednesday with the Austrian government that could give him control of Telekom Austria and allow the multi-billionaire to consolidate his foothold in Europe as he expands outside the Americas.

Slim’s telecoms group, America Movil (AMXL.MX: Quote, Profile, Research), agreed to back a 1 billion euro capital increase for Telekom Austria (TELA.VI: Quote, Profile, Research) and to pay 7.15 euros a share for the company’s outstanding stock, in a co-ownership deal combining its stake with Austrian state holding company OIAG’s holdings.

Apr 23, 2014

Mexico’s Slim reaches deal with Telekom Austria

VIENNA/MEXICO CITY, April 23 (Reuters) – Mexican billionaire
Carlos Slim struck an 11th-hour deal with the Austrian
government on Wednesday to pool their stakes in Telekom Austria,
paving the way for Slim to take control of the Austrian phone
company.

Slim’s telecoms giant, America Movil, agreed to
vote in favor of a 1 billion euro capital increase for Telekom
Austria and to pay 7.15 euros a share for the
company’s outstanding shares, in a deal that will see it combine
its stake with Austrian state holding company OIAG.

Apr 23, 2014

Telekom Austria proves slippery target for Slim

VIENNA, April 23 (Reuters) – Tycoon Carlos Slim stumbled in
his bid for control of Telekom Austria on Wednesday,
as a meeting designed to rubber-stamp a co-ownership deal with
the Austrian government was boycotted by labour representatives
unhappy with the proposal.

The deal is important for Slim because it could finally
allow him to begin consolidating the fruits of a European
adventure, begun in 2012 with initial investments of over $1
billion in Telekom Austria and $3.4 billion in Dutch group KPN
.

Apr 23, 2014

Labour representatives boycott vote on Telekom Austria pact

VIENNA (Reuters) – A vote on a shareholder pact at Telekom Austria between Mexican tycoon Carlos Slim and the Austrian government was boycotted by labour representatives on Wednesday, three sources familiar with the situation said.

A majority of the supervisory board of the OIAG state holding company would have to vote in favour of the pact, which would trigger a joint takeover bid and open the way for Slim to take control of Telekom Austria.

Apr 22, 2014

Shareholder adviser backs rebel investor for Conwert board

VIENNA, April 22 (Reuters) – A struggle over the management
of Austrian property group Conwert gained fresh
momentum as an independent advisory firm backed the candidacy of
a dissident shareholder to the board of the company.

Corporate governance advisory firm ISS, whose
recommendations can influence the votes of institutional
shareholders, said it would recommend investor Alexander
Proschofsky for Conwert’s board because change was necessary to
lift the share price.

Apr 22, 2014

Advisory group backs dissident investor to Conwert board

VIENNA, April 22 (Reuters) – A struggle over the management
of Austrian property group Conwert gained fresh
momentum as an independent advisory firm backed the candidacy of
a dissident shareholder to the board of the company.

Corporate governance advisory firm ISS, whose
recommendations can influence the votes of institutional
shareholders, said it would recommend investor Alexander
Proschofsky for Conwert’s board because change was necessary to
lift the share price.

Apr 17, 2014

Slim deal for Telekom Austria set for agreement

VIENNA, April 17 (Reuters) – An agreement between Carlos
Slim’s America Movil and the Austrian government to
take joint ownership of Telekom Austria is likely to
be agreed next week despite a public war of words that broke out
on Friday.

The government holding company OIAG will decide on Wednesday
whether to pool its 28 percent stake in Telekom Austria with
Slim’s 26 percent, triggering a joint takeover offer and
potentially handing Slim control of the company.

    • About Georgina

      "Currently based in London, with particular responsibility for professional publishers and the European activities of global technology, media and telecoms firms. Previously European technology correspondent based in Frankfurt. Began career in local radio in Glasgow and then worked in TV news for many years for Reuters, the BBC and Sky News in London and Moscow."
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