Carlos Slim to make Telekom Austria bid

Carlos Slim to make Telekom Austria bid

Latin American mogul Carlos Slim is likely to bid for a majority stake in Telekom Austria, Reuters reports.

Mexican billionaire and owner of America Móvil, Carlos Slim is expected to make a move to take majority control of Telekom Austria, in attempt to improve margins in the European market, industry sources have claimed.

"I expect Slim to make an offer for the majority of the company sooner or later," a source close to the matter said.

"It could be in two weeks or six months."

America Móvil presently own 26.8% of the Austrian incumbent, and a further 28% is state-owned.

In October last year Capacity learnt that such a takeover by America Móvil was highly likely, but later in November, this was vehemently denied by its CEO – and Slim’s son-in-law – Daniel Hajj Aboumrad.

However it now appears that a majority takeover is back on the cards as the Latin American firm looks to introduce further consolidation in European markets; rumours of which have already boosted share prices in the last year.

Speaking to Reuters at a company event, Hannes Ametsreiter, chief executive at Telekom Austria, said of Slim’s intentions: “I can’t comment because I don’t have any information. It’s their decision.”

Of the relationship between Telekom Austria and America Móvil, Ametsreiter said: “We have a very good relationship – it’s been like that from the start.”

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