VIENNA Aug 1 A billion-euro ($1.34 billion) rights issue by Telekom Austria is likely to happen soon after the company gains approval from its shareholders later this month, Telekom Austria's chairman said.
Telekom Austria's new majority owner, Carlos Slim's America Movil, is impatient to get going on an expansion programme in central and eastern Europe (CEE) designed to turn it into a regional powerhouse, mainly through acquisitions.
Asked by journalists how soon the capital increase would happen, Rudolf Kemler answered: "It will depend heavily on the market, how the markets develop. Basically, I expect that it should happen rather soon." (Reporting by Angelika Gruber; Writing by Georgina Prodhan; editing by Michael Shields)