UPDATE 1-Austria gives green light for Telekom Austria pact with Slim

viernes 28 de marzo de 2014 12:57 GYT
 

* OIAG board authorises drawing up shareholder pact

* Says talks to take weeks

* Austria wants to keep Telekom Austria HQ, blocking minority (Adds quotes and background)

VIENNA, March 28 (Reuters) - Austrian state holding company OIAG's board authorised management to negotiate a deal to pool the state's Telekom Austria stake with that of Carlos Slim's America Movil, effectively handing Slim control of the group.

An accord would mean the partners would have to vote in unison on major issues and would protect Austria's influence even with a smaller stake, while allowing Slim to raise his nearly 27 percent stake above the OIAG's 28 percent.

It would also trigger a mandatory offer for Telekom Austria shares by putting the partners' combined stake above the 30 percent threshold.

"The supervisory board granted management a negotiating mandate for final negotiations of a syndicate contract," OIAG said in a statement on Friday after a meeting in which the board was briefed on the status of talks.

It said its main concerns included keeping Telekom Austria's headquarters in Austria and ensuring the state keeps a blocking minority of at least 25 percent plus one share.

It said it would inform the public of the outcome after talks that would take place in the weeks ahead.   Continuación...