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New Co-Investor for Pecik

Published: October 24, 2011; 10:51 · (Vindobona)

Ronny Pecik, who is said to have acquired a substantial stake in Telekom Austria, now has a new partner. The Egyptian Sawiris faces liquidity problems.

New Co-Investor for Pecik / Picture: © Vindobona.org

Ronny Pecik becomes a core shareholder of Telekom Austria. According to confirmed market rumors, Pecik has already secured rights for a substantial stake in the telecommunication company. Pecik is said to aim for a blocking minority.

Nevertheless, Pecik had to change his plans for entering Telekom Austria. Initially, the Austrian investor intended to have the Egyptian investor Naguib Sawiris as co-investor. A brother of him confirmed the familiy´s interest to acquire shares of Telekom Austria. Sawiris owns the Egyptian telecommunication provider Orascom. However, due to the close connections of the family to the former President Mubarak, the family´s assets were frozen. As a result, Pecik had to rethink his plan.

The Austrian newspaper “Wirtschaftsblatt” reports that the new partner of Pecik is an Austrian investor. According to market observers, this alternative has better prospects to succeed – Austrian politics could try to prevent Pecik´s strategy.

Last week Pecik acquired call options for a 5.4% stake in Telekom Austria. What is more, Pecik is said to have acquired further options to a large extent. Over the last 18 months, the investor could have secured rights for 20% of Telekom Austria´s shares.

Telekom Austria´s management is still concerned. Merrill Lynch has already been contacted in order to work out a concept against a potential hostile takeover.

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