- America Movil (AMX -3.7%) is going to trim its stake in Telekom Austria to just over 50%, as part of an agreement it made to increase the Austrian firm's free float by the end of 2016.
- Carlos Slim's telecom giant holds about 59.7% of Telekom Austria, which it took over via a July 2014 offer. It will cut its stake by some 7.8 percentage points.
- Elsewhere (and surely not just coincidentally), Citigroup said it was issuing bonds exchangeable into 7.8% of Telekom Austria's shares. The €374.2M issue has an exchange price of €7.213/share; Telekom Austria's shares closed down 3.8% to €5.11 in Vienna.
- In terms from the acquisition, America Movil had pledged to increase Telekom Austria's free float to 20%; it's currently around 12%. Austria's state holding company owns about 28.4% of its incumbent telecom.