Tue, Feb. 3, 10:57 AM
- Through its subsidiary Turkcell Superonline, Turkcell (NYSE:TKC) is partnering with Telekom Austria (OTCPK:TKAGY) on regional interconnection that should boost corporate offerings.
- While Turkey's leading mobile service provider, Turkcell has seen gains in its fixed-line broadband business, and was first to offer fiber-to-the-home in the country.
- "With this agreement, Telekom Austria Group becomes accessible to our customers in Turkey, while Turkey joins Telekom Austria Group’s strong global network," says Turkcell deputy GM Emre Erdem.
- Telekom Austria serves around 23M customers in Central and Eastern Europe.
Jul. 15, 2014, 1:40 AM
- America Movil (NYSE:AMX) is increasing its ownership in Telekom Austria (OTCMKTS:TKAGY) from 27% to 50.8%. The $1B buyout marks America Movil's first successful move into the European market after it failed to acquire Dutch carrier KPN last year.
- The company is also looking to particularly expand its operating base outside of Mexico after new legislation passed last week requiring the telecom giant to cut its Mexican market share below 50%.
Jun. 9, 2014, 9:16 AM
- 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
Feb. 25, 2014, 12:15 PM
- America Movil (AMX +0.6%) has confirmed reports it's talking with Austrian government holding company OIAG to pool their stakes (26.8% and 28.4%, respectively) in Telekom Austria (TKAGY +1.9%) to form a syndicate. Such a deal would trigger an offer for outstanding Telekom Austria shares, thus paving the way for Carlos Slim's company to gain control of the Austrian carrier.
- Austria's economy minister says talks between the government and AMX could conclude within weeks.
- With AMX seeing minimal service revenue growth in its core Latin American markets, the company is increasingly turning its eyes toward Europe. AMX withdrew an offer for Dutch carrier KPN in October after talks broke down over price.
Nov. 14, 2013, 1:42 PM
- A month after withdrawing its $10.7B bid for Dutch carrier KPN following stalled negotiations, America Movil (AMX +1.4%) is ruling out a hostile bid for 23%-owned Telekom Austria (TKAGY -3.1%). Many have expected AMX to make a play for another European carrier following its failure to acquire KPN.
- Daniel Hajj, Carlos Slim's son-in-law, says AMX will remain a "stable partner" for Telekom Austria, but wasn't clear on whether or not the Latin American mobile giant would maintain or raise its stake if/when Telekom Austria goes through with an expected capital raise.
- The Austrian government owns 28% of Telekom Austria, and has said it wants to keep a stake of at least 25%.
Jun. 15, 2012, 3:57 AM
Jun. 14, 2012, 9:58 AM
TKAGY vs. ETF Alternatives
Telekom Austria is a telecommunications company based in Austria. Co. is engaged in offering fixed line, data communications and Internet fixed line activities from its wireline segment. The wireline segment also comprises data and IT solutions, Internet access and media, value-added and... More
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