March 17, 2014 / 11:30 AM / 4 years ago

Slim completes bundling of Telekom Austria stakes

VIENNA, March 17 (Reuters) - Mexican telecoms tycoon Carlos Slim has finished consolidating his company and family stakes in Telekom Austria into a blocking minority, the Austrian firm said on Monday in a regulatory filing.

Slim’s America Movil controls since last week the entire 26.8 percent stake that was previously split with a family foundation, it has informed Telekom Austria.

That is enough to veto big decisions at the Austrian firm but below the 30-percent mandatory takeover offer threshold.

The move announced in January clarified Slim’s position in the eyes of regulators that monitor when stakeholdings become large enough to trigger takeover bids.

Austrian state holding company OIAG remains Telekom Austria’s biggest shareholder with a 28 percent stake.

Austria and America Movil are in talks on pooling their stakes but have not moved to formal negotiations, the state holding company said last week.

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