June 17, 2014 / 10:35 AM / in 4 years

Telekom Austrian shareholder pact gets nod from regulator

VIENNA, June 17 (Reuters) - Austria’s telecoms regulator has approved a deal by Carlos Slim’s America Movil and the Austrian government to pool their shareholdings in Telekom Austria, it said on Tuesday.

The two parties agreed in April to pool their stakes, giving them a combined 55 percent of the former state telecoms monopoly and triggering a takeover offer by America Movil that runs until July 10.

Telecoms regulator RTR said the shareholding arrangement did not affect competition, and had no technical impact because conditions for using the frequencies that have already been awarded are unchanged.

Austria’s Financial Market Authority is also examining the deal because Telekom Austria’s Paybox Bank unit has a banking licence. The country’s Federal Competition Agency approved the pact last week. (Reporting by Michael Shields; Editing by James Macharia)

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