VIENNA, Nov 14 (Reuters) - America Movil does not plan a hostile takeover attempt of Telekom Austria, in which it owns 23 percent, its chief executive told an Austrian magazine.
“You can expect many things from us but nothing hostile,” Daniel Hajj told News magazine in an interview published on Thursday. “We did not buy our stake in Telekom Austria in order to take it over.”
Hajj said he saw the Austrian government, which owns 28 percent of Telekom Austria, as a partner, and said the two would determine the company’s strategy together.
He added that America Movil was not happy with the 1.03 billion euros ($1.38 billion) that Telekom Austria will have to pay after an auction for Austrian telecoms frequencies, and saw a capital increase at the Austrian company as “very likely”.
Hajj said that America Movil would remain a “stable partner” of the company in the event of a capital increase. He did not say whether it would maintain or raise its stake.