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Telekom Austria CEO: Cooperation with America Movil Going Well

By Nicole Lundeen VIENNA--The cooperation between the Mexican telecommunications company America Movil S.A.B. de C.V. (AMX.MX) and Austrian telecommunications company Telekom Austria AG (TKA.VI) is going well, Telekom Austria Chief Executive Hannes Ametsreiter said Thursday. The CEO said there were ongoing discussions between the two companies and he expects synergy effects in areas such as purchasing and content. America Movil is awaiting Austrian government approval to buy a stake from Austrian investor Ronny Pecik. This purchase along with holdings the company already has and holdings purchased by the Slim family would push the total shareholding to over 25% in Telekom Austria. Under Austrian law, foreign holdings of over 25% of certain companies deemed important to the state must be approved by the government. Mr. Ametsreiter said there were positive signals about the process. Write to Nicole Lundeen at Subscribe to WSJ:

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05/20/201519:01:29ADRs End Mixed; Bank Shares Rise
04/27/201510:13:39America Movil SAB de CV Price Target Cut to $20.00 (AMX)

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