VIENNA, March 26 (Reuters) - Austria is close to a deal to pool its Telekom Austria stake with that of Carlos Slim’s America Movil, Rudolf Kemler, the head of state holding company OIAG and Telekom Austria chairman, told reporters on Wednesday.
“There is not a final agreement but we are well on the way and we should get there in the foreseeable future,” he said, adding details of a term sheet for the deal were being finalised. The accord was set to last around 10 years.
Kemler said he expected to ask the OIAG board on Friday to authorise finalising a contract with America Movil that could then be wrapped up in two to three weeks.
America Movil’s goal is to boost its stake to above 30 percent from nearly 27 percent now and run Telekom Austria so that it can consolidate the group, he said.
Reporting by Michael Shields; Editing by Erica Billingham