Austria: Carlos Slim to collaborate with government on Telekom Austria

Austrian media are reporting that Mexico communications mogul Carlos Slim has struck an agreement with Austrian government officials to pool their stakes in Telekom Austria.

The nation’s Federal Competition Agency has reportedly approved of the collaboration that will see the parties hold a combined 55 percent stake in the wireless operator that will initiate a takeover offer by Slim’s America Movil. According to reports, the Federal Competition Agency has also effectively given Slim to OK his pursuit of a Telekom Austria takeover, noting that the regulator will not refer the merger plans to Austria’s cartel court.

Slim and the Austrian government had first agreed last April to pool their shares in the onetime state-owned monopoly operator. While the nation’s competition authority has effectively cleared the deal, reports say the nation’s telecommunications regulator and its Financial Market Authority are both additionally reviewing the transaction.

Full content: Reuters

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