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Austria sees Telekom Austria pact with Slim stable
June 26, 2014 / 7:35 AM / 3 years ago

Austria sees Telekom Austria pact with Slim stable

VIENNA, June 26 (Reuters) - A surprise writedown of Telekom Austria’s Bulgarian business will not affect a recently agreed partnership between its major shareholders America Movil and the Austrian government, the Austrian OIAG state holding company said.

“The partnership between OIAG and America Movil will of course continue. A stable shareholder structure is exactly what Telekom Austria needs at this moment,” a spokesman for OIAG said on Thursday.

Telekom Austria, which is being taken over by Carlos Slim’s America Movil under the shareholder pact with Austria, said on Wednesday it was writing down its Bulgarian unit, its biggest foreign business, by 400 million euros ($545 million).

$1 = 0.7335 Euros Reporting by Angelika Gruber; Writing by Georgina Prodhan; Editing by Michael Shields and Pravin Char

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