América Móvil S.A.B. de C.V. (AMX,AMOV) has reached an agreement with Marathon Zwei Beteiligungs GmbH, a wholly owned unit of RPR Privatstiftung, the private trust set up by Ronny Pecik to acquire some 21% of the outstanding shares of Telekom Austria AG (TKA,TKAGY.PK).
According to the deal, AMX has today purchased about 5% of the outstanding shares of Telekom Austria and would buy an additional nearly 16% stake upon receipt of certain governmental approvals and other authorizations customary in this type of transaction. The acquisition of this additional stake may close during 2012.
Till date, after giving effect to the approximately 5% acquisition, AMX total interest in Telekom Austria is 6.7% and, upon consummation of the acquisition of the additional 16% stake, AMX total interest would be about 23%. AMX expects to develop a constructive relationship with Telekom Austria's stakeholders and is confident about the company's overall potentialfor development.
Ronny Pecik is expected to continue to serve as vice-chairman of the Supervisory Board and to support the future development of Telekom Austria.
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