VIENNA Feb 20 Billionaire investor Carlos
Slim's America Movil plans a friendly takeover of
Telekom Austria via a shareholder syndicate with its
top Austrian shareholder that could lead to a public share
offer, News magazine reported.
It said a draft version of the syndicate contract with
Austrian state holding company OIAG envisioned pooling the
stakes of the two big shareholders for 10 years with a five-year
"Should Austria accept this contract, America Movil commits
itself to making a public takeover offer at the closing of the
contract. Insiders view this as a generous offer," it said
without giving details or citing a specific source.
No-one at Telekom Austria could immediately be reached for
Asked about how cooperation with the Mexicans will work in
future, OIAG head and Telekom Austria Chairman Rudolf Kemler was
quoted as saying: "There are neither a final decision nor
concrete negotiations. But OIAG has a strategic responsibility
to think about future constellations when it comes to such a
significant company for Austria."
He reiterated that Austria was committed to maintaining a
blocking minority of 25 percent plus one share and would take
part in any share issue at Telekom Austria to do so.
A shareholders' pact would mean the partners have to vote in
unison on major company issues, ensuring the OIAG had a say in
the company's future even if Slim raised his 27 percent stake
above the OIAG's 28 percent.