April 24, 2014 / 2:36 PM / 4 years ago

America Movil sees Telekom Austria as base for CEE

VIENNA, April 24 (Reuters) - America Movil sees Telekom Austria as a base to expand into neighbouring central and eastern Europe, its chief financial officer said on Thursday.

“We have talked about Telekom Austria being a platform for expansion ... into the central and eastern European countries,” Carlos Garcia Moreno told a news conference in Vienna.

“It’s not just about Telekom Austria as it is today, it’s also about how we dream it can be.”

Moreno, who signed a co-ownership contract with the Austrian state holding company late on Wednesday, giving America Movil operational control of Telekom Austria, said he now saw the company well-positioned for market consolidation in Europe.

He said America Movil planned to finance a rights issue of about 1 billion euros ($1.4 billion) at Telekom Austria and the buyout of the company’s minority shareholders through a credit line set up for the purpose.

He added that he would like to move forward with the partnership with state holding company OIAG “very rapidly”. (Reporting by Georgina Prodhan; Editing by David Goodman)

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