MEXICO CITY, Nov 6 (Reuters) - Mexican tycoon Carlos Slim’s America Movil plans to subscribe to Telekom Austria’s upcoming capital increase proportional to its shareholding in the company, Chief Financial Officer Carlos Garcia Moreno told Reuters on Thursday.
“In the capital increase, we’re committed to subscribing to the part that’s proportionate to us in terms of our shareholding,” Garcia Moreno said in an email.
Telekom Austria, in which Slim holds a 59.7 percent stake, is set to launch its long-awaited 1 billion euros ($1.24 billion) cash call before the end of the year. Austrian state holding company OIAG with its 28.4 percent stake has said it did not want its stake to be diluted in the capital hike. (Reporting by Dave Graham in Mexico City, Angelika Gruber and Shadia Nasralla in Vienna and Arno Schuetze in Frankfurt; Editing by Simon Gardner)