VIENNA May 15 America Movil has submitted its
offer to buy the shares of Telekom Austria which the Mexican
telecoms giant or its partner, Austrian state holding company
OIAG, do not already own.
In an announcement in Austrian newspaper Wiener Zeitung on
Thursday, America Movil's European unit said it had offered 7.15
euros a share for the rest of the Austrian telecoms company's
stock, confirming the price it had announced last month.
It did not say how long the offer would remain open.
The buy-out will cost America Movil, controlled by
Mexican billionaire Carlos Slim, up to $2 billion on top of
about $1 billion the company has already spent on building up
its 27 percent stake in Telekom Austria since 2012.
The purchase of Telekom Austria is a landmark for
Slim and should allow him to build up a presence in Europe as he
seeks to expand business away from his main market Latin
America, where he is under increasing pressure from regulators.
Last month America Movil sealed a deal with OIAG to take
effective control of Telekom Austria. OIAG owns 28 percent of
the former state telecoms monopoly, and will retain the right to
appoint the company's chief executive and chairman.
Slim also holds a large stake in Dutch telecoms firm KPN
, but his bid to take over the company failed last year.
(Reporting by Angelika Gruber; Writing by Dave Graham)