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UPDATE 1-Telekom Austria shares rise after Carlos Slim's KPN bid
August 9, 2013 / 8:36 AM / 4 years ago

UPDATE 1-Telekom Austria shares rise after Carlos Slim's KPN bid

* Telekom Austria stock up more than 7 pct

* America Movil has nearly 24 pct stake, Slim family 3.1 pct

* Analysts see no immediate bid for Telekom Austria (Adds company no comment, market reaction)

VIENNA, Aug 9 (Reuters) - Shares in Telekom Austria rose more than 7 percent after Mexican tycoon Carlos Slim’s America Movil made a 7.2 billion euro ($9.6 billion) bid for shares it does not already own in Dutch peer KPN.

America Movil bought into both European companies in a 4 billion euro ($5.35 billion) foray last year. The Mexican company has nearly 24 percent of Telekom Austria, while the Slim family controls a separate 3.1 percent stake.

Analysts said bid for KPN was giving Telekom Austria stock a push but did not necessarily presage a similar move on the company by Slim.

“This is positive but it does not make an immediate takeover of Telekom Austria more likely,” Raiffeisen Centrobank analyst Bernd Maurer said.

He said it was hard to do two takeovers at once and the move on KPN reflected specific concerns about a $11 billion bid by Spain’s Telefonica last month for KPN’s German arm E-Plus, casting doubt over America Movil’s European investments.

Telekom Austria stock was up 7.6 percent at 5.67 euros by 0822 GMT.

Austrian state holding company OeIAG is the biggest shareholder in Telekom Austria with a 28.4 percent stake. Telekom Austria declined comment on the matter.

$1 = 0.7471 euros Reporting by Angelika Gruber and Michael Shields; editing by Keiron Henderson and Jane Merriman

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