VIENNA, Feb 26 (Reuters) – Telekom Austria said it
would freeze its dividend for the third year in a row, as sales
and profits fell sharply in the fourth quarter due to tough
competition in its main markets.
The company, expected to be the target of a takeover bid by
Carlos Slim’s America Movil, said on Wednesday
fourth-quarter core profit fell 18 percent as sales dropped in
Austria, Bulgaria and Croatia – its biggest markets.
VIENNA, Feb 25 (Reuters) – Carlos Slim’s America Movil and
the Austrian government are moving towards a deal to pool their
stakes in Telekom Austria, which would lead to a
takeover offer and mark a further step in the Mexican tycoon’s
expansion in Europe.
Austria’s economy minister said on Tuesday talks about
creating a pact, which both parties said had been informal so
far, could wrap up within weeks.
VIENNA, Feb 25 (Reuters) – Austrian fireproof materials
maker RHI is confident it can make profitable within
two years a Norwegian plant whose troubles cut into the
company’s full-year results.
Chief Executive Franz Strutzl said on Tuesday the idea of
shutting down the magnesia-fusion plant was now off the table,
as major technical problems had been resolved, although work
remained to be done to reduce production costs.
VIENNA (Reuters) – Austria should not demand creditors of struggling state bank Hypo Alpe Adria HAABI.UL take a “haircut” on the debt, central bank head Ewald Nowotny said, contradicting the country’s finance minister.
Nowotny, who was on Friday put in charge of a task force set up to advise the government on how to wind down Hypo after its previous chief quit, said Austria’s reputation was at stake if it did not stand by its obligations.
VIENNA, Feb 19 (Reuters) – Austrian oil and gas group OMV
said unrest in Libya and Yemen as well as low refining
margins and gas prices cut fourth-quarter adjusted operating
profit by 54 percent.
However, the company, which is investing heavily in
exploration and production (E&P) while struggling with weak
demand in Europe, confirmed a 2014 production target despite the
volatile security situation in North Africa and the Middle East.
VIENNA/MILAN, Feb 12 (Reuters) – Austrian property group
Immofinanz said it had agreed to buy 18,000 German
homes for about 892 million euros ($1.21 billion), paving the
way for a spin-off of its Buwog unit.
Italy’s Prelios, one of the two sellers along with
Deutsche Asset & Wealth Management, said on Wednesday
the price comprised 162 million euros in equity, 736 million
euros in debt, and working capital.
VIENNA, Feb 11 (Reuters) – Austrian steelmaker Voestalpine
cut its full-year profit forecast on Tuesday, hit by
falling prices for pipeline and power station projects due to
weak demand in the energy sector.
Voestalpine said it now expected core and operating profit
“somewhat beneath” last year’s levels instead of stable, after
reporting third-quarter earnings and sales that were well below
VIENNA/MILAN, Feb 3 (Reuters) – Austria’s Verbund
has rejected its partly owned Sorgenia unit’s call for funds,
jeopardising the chances that talks with creditor banks on a
debt standstill will succeed.
The loss-making Italian energy company, controlled by
holding company CIR, is trying to negotiate freezing
repayments on almost 1.8 billion euros ($2.4 billion) of debt
VIENNA (Reuters) – Austria is open to Carlos Slim’s America Movil (AMXL.MX: Quote, Profile, Research, Stock Buzz) taking a majority stake in Telekom Austria (TELA.VI: Quote, Profile, Research, Stock Buzz), the head of the state holding company said, paving the way for a long-awaited move by the billionaire investor.
Rudolf Kemler said it was a “secondary question” whether Slim, who is keen to reduce his dependence on the increasingly regulated Mexican market, bought a majority of Telekom Austria as long as the Austrian government kept at least 25 percent.
VIENNA (Reuters) – Austria’s new Foreign Minister Sebastian Kurz will champion European Union membership for qualifying Balkan countries when he meets EU counterparts next week, he told Reuters on Friday.
It will be the first formal meeting of EU foreign ministers for Kurz, just 27 and a rising star in the People’s Party who got the top foreign policy job last month in a cabinet reshuffle after September elections.