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Mexico's Carlos Slim buys stake in Telekom Austria

Wednesday, June 6, 2012

Mexico's Carlos Slim has purchased a 4.1 percent stake in Telekom Austria, in a new move into the European market by his mobile giant America Movil, which is already seeking a bigger share of Dutch telecom KPN.

Oscar Von Hauske, head of fixed operations at America Movil, confirmed a report in the Austrian media that the company had built up the 4.1 percent stake.

Telekom Austria shares shot up as much as 10 percent earlier on Tuesday.

Source: Reuters