Telekom Austria: Massive Capital Increase Ahead

Businessn.a. ♦ Published: October 25, 2013; 19:18 ♦ (Vindobona)

In order to implement its expansion strategy, the Austrian telecommunication group will carry out a capital increase next year. In total, the capital requirement comes at € 1.0bn.

Telekom Austria: Massive Capital Increase Ahead / Picture: © Telekom Austria Group

Last week, the Austrian mobile phone frequencies were sold by auction. In total, the telecommunication industry faces costs of € 2.01bn. About the half will be paid by the market leader Telekom Austria. The partly publicly held telecommunication group has to pay about € 1.0bn for the mobile phone frequencies. CEO Hannes Ametsreiter underlined that Telekom Austria does not have to…