(Corrects Reuters Instrument Code in the lead to from )
FRANKFURT, Nov 7 (Reuters) - Telekom Austria announced its long-awaited 1 billion euro ($1.24 billion) capital increase on Friday, with Mexican tycoon Carlos Slim's America Movil as well as Austrian state holding company OIAG taking up new shares.
The rights offering will start on Nov. 10 and is expected to end on Nov. 24, Telekom Austria said.
It said shareholders would be entitled to one new share for every two existing Telekom Austria shares they own.
Telekom Austria shares were 3.3 percent lower in pre-market trading.
America Movil had said on Thursday that it plans to subscribe to Telekom Austria's capital increase proportional to its shareholding in the company. ($1 = 0.8074 euro) (Reporting by Maria Sheahan; Editing by Arno Schuetze and David Goodman)