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Antitrust watchdog OKs Slim's Telekom Austria pact

June 09, 2014 at 06:03 am EDT

MarketScreener.com By

VIENNA (Reuters) - Austria's Federal Competition Agency (BWB) has approved a agreement by Carlos Slim's America Movil and the Austrian government to pool their shareholdings in Telekom Austria, the Austria Press Agency reported.

The two parties agreed in April to pool their stakes, giving them a combined 55 percent of the former state telecoms monopoly and triggering a takeover offer by America Movil that runs until July 10.

The BWB said on Monday it would not refer America Movil's "acquisition of sole control" of Telekom Austria, the largest of three telecom network operators in Austria, to the country's cartel court, APA said.

The BWB was not immediately reachable to confirm the report on Monday, a public holiday in Austria.

Austria's telecoms regulator is also examining the deal, as is the Financial Market Authority because Telekom Austria's Paybox Bank unit has a banking licence.

(Reporting by Georgina Prodhan; Editing by Erica Billingham)

Stocks mentioned in the article

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	AMÉRICA MÓVIL, S.A.B. DE C.V.	19.6 MXN	+0.67%	+0.36%	61.45B

Carlos Slim Helú

Founder of 5 different companies, notably: America Movil SAB de CV, Teléfonos de México SAB de CV and Grupo Financiero Inbursa SAB de CV, Carlos Slim Helú is an entrepreneur and businessperson who has been the head of 13 different companies and currently holds the position of Chairman for Minera Frisco SAB de CV, Chairman at Asociación Mexicana de Intermediarios Bursátiles AC, Chairman of Instituto Carlos Slim de la Educación, A.C., Chairman at América Telecom SA de CV, Chairman of Carso Infraestructura y Construcciones SA de CV and Chairman at Promotora del Desarrollo de América Latina SA de CV. He is also Chairman of Fundación Telmex AC, Chairman of Fundación Carlos Slim Helú AC and Chairman of Telemex Foundation AC and on the board of 10 other companies. In the past he occupied the position of Chairman for Carso Global Telecom SAB de CV, President for Bolsa Mexicana de Valores SAB de CV, Chairman at Teléfonos de México SAB de CV (he founded the company in 1990), Director at America Movil SAB de CV and Chairman Emeritus at Grupo Financiero Inbursa SAB de CV. Carlos Slim Helú received an undergraduate degree from Universidad Nacional Autónoma de México.

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América Telecom SA de CV América Telecom SA de CV Wireless TelecommunicationsCommunications América Telecom SA de CV provides cellular and telecommunication services. It provides telecommunication services, through its subsidiary Telcel, in the nine mobile regions into which Mexico is divided. Its other subsidiaries include Corporativo Empresarial en Telecomunicaciones, Orca, Technology Fund One, Enitel Intelsat, Construccion y Servicios Internacionales, Techtel LMDS Comunicaciones Interactivas SA, Telet SA, Americel SA, Comunicacion Celular SA, Consorcio Ecuatoriano de Telecomunicaciones SA, Telecomunicaciones de Guatemala, SA, Telcel CompUSA, Inc., TracFone Wireless, Inc., Arbros Communications, Inc. and Genesis Telecom CA, which operate in various countries in the American continent. The company was founded in December 2001 and is located in Mexico City, Mexico.	Chairman
Promotora del Desarrollo de América Latina SA de CV Promotora del Desarrollo de América Latina SA de CV Engineering & ConstructionIndustrial Services Promotora del Desarrollo de America Latina SA de CV acquires, develops, and promotes infrastructure projects. It operates as a subsidiary of Impulsora del Desarrollo y el Empleo en America Latina SAB de CV. The company is headquartered in Mexico City, Mexico	Chairman

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