América Móvil to acquire a stake in Telekom Austria
Date: Fri, 06/15/2012 - 09:55
América Móvil (AMX) announced that it has today entered into an agreement with Marathon Zwei Beteiligungs GmbH, a wholly owned subsidiary of RPR Privatstiftung, the private trust set up by Mr. Ronny Pecik to acquire approximately 21% of the outstanding shares of Telekom Austria AG (“Telekom Austria”)
Pursuant to the terms of the agreement, AMX has today acquired approximately 5% of the outstanding shares of Telekom Austria and will acquire an additional approximately 16% stake upon receipt of certain governmental approvals and other authorizations customary in this type of transaction. The acquisition of this additional stake is expected to close during 2012.
As of today, after giving effect to the approximately 5% acquisition, AMX total interest in Telekom Austria is 6.7% and, upon consummation of the acquisition of the additional 16% stake, AMX total interest will be approximately 23%.
This acquisition positions AMX as a long-term strategic partner of Telekom Austria. It is part of AMX geographic diversification strategy and provides an attractive presence in Central and Eastern Europe. AMX expects to develop a constructive relationship with Telekom Austria’s stakeholders and is confident about the company’s overall potential for development. Mr. Ronny Pecik is expected to continue to serve as vice-chairman of the Supervisory Board and to support the future development of Telekom Austria.
Telekom Austria, the largest telecommunications company in the country, also provides telecommunication services in Belarus, Bulgaria, Croatia, Liechtenstein, Macedonia, Serbia and Slovenia. As of March 31, 2012, it had 20.3 million wireless subscribers and 2.6 million fixed lines.