April 24, 2014 / 3:11 PM / in 4 years

America Movil says no target stake for Telekom Austria

VIENNA, April 24 (Reuters) - America Movil has no fixed target for the stake it wants to acquire in Telekom Austria, its chief financial officer said on Thursday.

“I do not know that we have an intended objective in terms of our holding,” Carlos Garcia Moreno told a news conference in Vienna. “We will likely have to consolidate it anyway so we don’t really need to increase the ownership interest.”

America Movil has 27 percent of Telekom Austria and will launch a mandatory public offer for the rest of the company in the next few weeks after a shareholder agreement with the Austrian government to pool their stakes.

Asked whether he foresaw job cuts at Telekom Austria within the next two years, Moreno said it was too early to tell. (Reporting by Georgina Prodhan; Editing by David Goodman)

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