According to the firm, the stake was bought from an unnamed private investor
Mexican telco América Móvil has increased its share in A1 Telekom Austria Group by 5.55%, taking its total shareholding to 56.55%
América Móvil, owned by billionaire businessman Carlos Slim, purchased the majority share (51%) of A1 Telekom Austria in 2014. At the time, the remaining shareholders in the Austrian telco were ÖBAG (28.4%), institutional investors (14.7%), retail (3.3%), and others (2.6%).
Financial details of the deal have not been disclosed.
“Telekom Austria is a core investment for América Móvil. We are very satisfied with the overall development of the company, a top performer amongst its European peers over the last several years,” said América Móvil CFO Carlos García Moreno.
The share price of A1 Telekom Austria rose 1.04% on the announcement.
For América Móvil, this stake increase comes at a time of increasing commitment to the Austrian market, including plans to accelerate A1’s Telkom’s rollout of both 5G and fibre.
In parallel with these network expansions, América Móvil is also moving to monetise the Austrian’s business’s passive assets. In February this year, América Móvil reached a deal with ÖBAG to separate A1 Telekom Austria Group’s tower infrastructure unit into an independent company, named EuroTeleSites AG.
America Movil closed a €500 million loan and launched a €500 million bond to fully fund the new tower company at the time of the spin off, with the intention of listing the company on the Vienna Stock Exchange later this year.
Want to keep up to date with all of the latest telecoms news from around the world? Click here to receive Total Telecom’s daily newsletter
Also in the news:
Telefónica sells majority share of Peruvian fibre network to KKR
Mexico’s high 5G spectrum price could see Telcel the only bidder in latest auction
Ooredoo, Zain and TASC set to create MENA tower giant