Telekom Austria's Tower Business Listing Expected Around Sept. 22

By Cecilia Butini

Telekom Austria said Tuesday that it expects its tower business EuroTeleSites to be listed on the Vienna Stock Exchange on or about Sept. 22, following the business's spin off.

Telekom Austria shareholders will receive one additional EuroTeleSites share for every four Telekom Austria shares held, the telecom operator said, adding that there will no change to the listing of its own shares on the Vienna Stock Exchange.

The tower business's spinoff is expected to take place just before the end of the third reporting quarter of Telekom Austria, the company said.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

09-12-23 0645ET