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Telekom Austria: Authorities Approve Slim´s Entry

Published: August 1, 2012; 20:04 · (Vindobona)

As expected, the public telecommunication authority TKK (Telecommunication Control Commission) approved the entry of the Mexican investor at Telekom Austria.

Telekom Austria: Authorities Approve Slim´s Entry / Picture: © Telekom Austria Group

Last week, already BWB (Federal Competition Authority) announced that there are no objections against the entry of Slim. Today, TKK pointed out that the competition in the Austrian telecommunication market will not be damaged. TKK had to examine whether Slim´s entry may affect the usage of frequency licenses. This is not the case, the authority stated today.

Last week, the Austrian Federal Competition Authority officially approved the deal between the Austrian investor Ronny Pecik and the Mexican investor Carlos Slim. At the moment, Slim owns 9.89% of Telekom Austria´s shares. Slim will whold a 25.9% stake in the near future. As a result, Slim will become the second-largest shareholder at Telekom Austria.

As Slim will exceed the 25% threshold, the investor still needs the approval of the Ministry of Economics. As BWB has obviously no serious concerns, a the examination phase will not be deepened.

With his stake in Telekom Austria, the Mexican investor creates an „attractive presence“ in Central and Eastern Europe, he said. Slim expects to develop „constructive ties“ to other shareholders of Telekom. Ametsreiter explained that the business field “machine to machine” is regarded as growth segment. “In a view years, every car will have a SIM-card.” Besides that, Ametsreiter thinks that the NFC technology may generate future growth.

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