February 14, 2014 / 5:30 PM / 4 years ago

Telekom Austria works council wants answers from state and Slim

VIENNA, Feb 14 (Reuters) - The head of Telekom Austria’s works council plans to call a meeting of the state holding company’s (OAIG) supervisory board to clarify its plans regarding major shareholder Carlos Slim, he said on Friday.

The works council says the government’s position as biggest shareholder is the best guarantee of jobs and long-term prospects and fears a dilution of its stake.

Walter Hotz said he wanted the OIAG, which is Telekom Austria’s biggest shareholder, to say to what extent it would participate if a capital increase were to go ahead and whether it was in talks with Slim over pooling the two major holdings.

A shareholders’ pact would mean that they had to vote in unison on major company issues ensuring that the OIAG had a say in the company’s future, even if Slim raised his 27 percent stake above the OIAG’s 28 percent.

“Quite simply, we want clarity,” Hotz told Reuters, referring to his plan to call officially on Monday for a meeting between the OAIG and Telekom Austria, after which the OIAG would have two weeks in which to hold it.

Telekom Austria is widely expected to carry out a capital increase this year, opening a way for the relative stakeholdings to change.

Holz, who is a member of the supervisory boards of both the OIAG and Telekom Austria, said the works council also planned to write an open letter to the Austrian finance ministry, which controls the OIAG.

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