By Anthony Harrup
MEXICO CITY--Mexican telecommunications heavyweight America
Movil (AMX, AMX.MX) said Monday it obtained an additional 8.7% of
Telekom Austria (TKA.VI) in an extended purchase offer, bringing
its stake in the European company to around 59.7%.
The company controlled by billionaire Carlos Slim said an
additional 38.4 million Telekom Austria shares were tendered since
the initial buyout offer closed in July. The Mexican company
reached agreement in April with Austrian government holding company
Österreichische Industrieholding AG, or ÖIAG, to pool their stakes
in the carrier.
America Movil plans to consolidate Telekom Austria in its
results when it reports third-quarter earnings on Thursday.
While increasing its presence in Europe, America Movil is
planning to sell assets in Mexico to avoid strict regulatory
measures imposed on it as the dominant carrier in its home market.
The measures include the elimination of mobile interconnection fees
and domestic long-distance phone charges, as well as forced network
sharing.
America Movil is paying EUR7.15 for each of the Telekom Austria
shares.
Write to Anthony Harrup at anthony.harrup@wsj.com
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