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America Movil Has 4.1% Stake in Telekom Austria - Report

Mexican telecommunications company America Movil SAB de CV (AMX) has a stake of about 4.1% in Austrian peer Telekom Austria AG (TKA.VI), News magazine reports Tuesday on its website. Telekom Austria supervisory board member Ronny Pecik, who holds about 20% in the company through his RPR Privatstiftung, plans to pool his stake with America Movil's, the Austrian magazine reports. Pecik will sell his stake for almost 900 million euros ($1.13 billion) to a new company with the preliminary name Amov, and America Movil will also transfer its stake to Amov, News says. America Movil will hold an 80% stake in Amov and RPR Privatstiftung 20% of the company which will own almost 25% of Telekom Austria. Spokespeople for America Movil and Telekom Austria declined to comment. Telekom Austria shares closed 4.3% higher following the report. Full article: http://www.news.at/articles/1223/510/329977/telekom-austria-geheimprojekt-tonga Write to the Frankfurt Bureau at frankfurt.priority@dowjones.com

Stock News for America Movil (AMX)
DateTimeHeadline
02/24/201512:52:41Mexico's 2014 Foreign Direct Investment $22.6 Billion
02/18/201517:20:53Ecuador Signs 4G Contracts With America Movil, Telefónica

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