Regulators approve AMX/Telekom Austria deal

Austrian antitrust regulators have approved a deal that will allow America Movil (AMX) and the Austrian government to pool their combined 55% stakes stakes in Telekom Austria (TKAGY), thereby triggering a takeover offer from Carlos Slim's company lasting until July 10.

The deal comes after AMX made a failed attempt to acquire Dutch carrier KPN last fall. The carrier has been looking to Europe to offset slowing Latin American growth.

Previous: America Movil makes push for Telekom Austria

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