América Móvil increases majority stake in Telekom Austria

América Móvil has increased its stake in Telekom Austria by about 8.68% to take its holding to 59.7% as a result of a public tender offer that expired last Thursday.

Upon settlement of the shares that participated in the offer during an additional acceptance period, América Móvil will, directly and indirectly, hold 264,470,131 shares in the Austrian telco.

Telekom Austria has about 23 million fixed and mobile customers across eight countries, including several in which it provides TV services as part of its offering.