Telekom Austria AG, one of two European phone companies part-owned by Carlos Slim’s America Movil SAB, posted fourth-quarter earnings that missed analysts’ estimates and forecast further revenue declines.
America Movil SAB is discussing an agreement to combine its Telekom Austria AG shares with the Austrian government to form a syndicate, a move that would lead to a bid for full control of the European phone carrier.
The Austrian government is ready to let Carlos Slim’s America Movil SAB become Telekom Austria AG’s biggest investor or even own a majority stake, the head of the country’s state holding company said today.
Telekom Austria AG and local units of Hutchison Whampoa Ltd. and Deutsche Telekom AG tightened their hold on the Alpine republic’s mobile-phone market in a spectrum auction that raised 2 billion euros ($2.7 billion).
Telekom Austria AG, one of the two European network operators part-owned by Carlos Slim’s America Movil SAB, said third-quarter earnings fell as sluggish eastern European economies added to intense domestic competition.