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Mexico/Austria: Carlos Slim stays the course with EU investments

By  |  November 9, 2014

While reports say the investment plan has not yet paid off, Carlos Slim is reportedly spending an additional $750 million in Telekom Austria as he looks to expand into the EU telco industry.

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    Slim first launched investments in Austria with a more than $1 billion purchase in Telekom Austria shares. The latest buyout makes Slim’s America Movil and state holding company OelAG the two leading investors in the Austrian telco, say reports.

    America Movil and OelAG agreed earlier this year to proactively push for Telekom Austria’s growth after a spectrum acquisition increased the company’s debt. But reports say America Movil is also looking to use Telekom Austria as a launching pad for more EU investments.

    Full content: Bloomberg

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