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America Movil sells more shares in Telekom Austria

2016-08-23 12:02:00| Telecompaper Headlines

(Telecompaper) America Movil announced plans to sell another 0.89 percent stake in Telekom Austria Group. The 5.92 million shares will be offered to institutional investors in an accelerated bookbuilding. Last month America Movil sold 7.8 percent of its voting rights in Telekom Austria to the market, reducing its stake to 51.89 percent. The latest share sale will lower its stake to 51.0 percent. America Movil said it currently has no plans to sell any more shares in Telekom Austria. In addition, it has agreed to a 180-day lock-up of its remaining shares.

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