(Telecompaper) Telekom Austria has denied that it is planning further expansion in Eastern Europe, reports Reuters. Over the past month, local newspapers have reported that the company was setting up a new holding company to fund further expansion in the region. It already has operations in seven central and eastern European markets including Bulgaria, Croatia and Belarus. Speaking at the company's annual general meeting, chairman Rudolf Kemler said that there were no concrete plans for an eastern Europe expansion. CEO Hannes Ametsreiter said that the company was examining international synergies with America Movil and KPN in the areas of network backbones or wholesale purchasing, but declined to provide details.