América Móvil commits to investment in Telekom Austria
05 February 2014 | Kavit Majithia
América Móvil has confirmed intentions to invest in Telekom Austria for the long-term, in a bid to replicate a model it has used for other eastern European operations.
The Mexican company owns a 27% stake, and is the largest shareholder in Telekom Austria after the Austrian government.
There have been rumours the Carlos Slim-owned operator will look to acquire a majority stake in the company in the near future, following its failed bid to acquire KPN in the Netherlands.
América Móvil’s CEO Daniel Hajj told local Austrian news sources that for now, it is determined to continue investing in Austria’s largest operator.
“It is an important commitment for us. Above all, we see Telekom Austria’s entrenchment in eastern Europe as valuable and promising for the future,” he said. “We are long-term investors. We can make a strong contribution with our know-how and our international experience. We are not out to make a fast buck.”
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