By Anthony Harrup
MEXICO CITY--Mexican teleocmmunications heavyweight America
Movil said it may hold talks with the Austrian government about
forming a shareholder syndicate agreement, a potential tie-up that
could indicate a bid for control of telecommunications company
Telekom Austria AG.
America Movil, controlled by billionaire Carlos Slim, said in a
statement that since investing in Telekom Austria it has held
discussions with a number of shareholders, including OIAG, the
Austrian government holding company.
America Movil said it could also start formal discussions on a
potential shareholder syndicate agreement with OIAG as shareholders
in Telekom Austria.
"However, any contacts on this are currently at a very early
stage. It is unclear whether discussions will enter a critical
negotiation phase or result in any shareholders' syndicate
agreement," America Movil said, adding that at present no agreement
exists regarding Austria Telekom.
America Movil acquired a minority stake in Telekom Austria in
2012, along with another in Dutch carrier Royal KPN (KPN.AE) as Mr.
Slim's company, having exhausted merger-and-acquisition
possibilities in Latin America, sought to diversify geographically
with a move into Europe.
A takeover bid for KPN last year was unsuccessful, however, when
an independent foundation friendly to KPN exercised an option to
acquire nearly half of KPN shares, prompting America Movil to
withdraw the offer.
Late last year, America Movil reduced its stake in KPN to 27.1%
from 29.8%. Officials said the shares were sold for financial
reasons to pay down debt, and that the reduction didn't affect
America Movil's rights or relationship with KPN.
Unlike KPN, Telekom Austria received the Mexican investors with
open arms, and America Movil has recently raised its stake to about
27%.
America Movil said its statement Monday was in response to
"market rumors relating to a possible tie-up" with OIAG.
The company's L shares traded on the Mexican stock exchange were
recently down 1.3% at 13.16 pesos ($0.99).
Write to Anthony Harrup at anthony.harrup@wsj.com
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