America Movil To Buy 21% Stake In Telekom Austria By Year End

Mexican company America Movil (AMX.MX ) Friday said it agreed with RPR Privatstiftung's unit Marathon Zwei Beteiligungs GmbH to acquire around 21% of the outstanding shares of telecommunications company Telekom Austria AG (TKA.VI).

MAIN FACTS:

-On Friday, America Movil acquired around 5% of outstanding Telekom Austria shares and will buy an additional 16% stake by end of 2012, after it receives governmental approvals and other required authorizations.

-With the additional 5% stake, America Movil's total interest in Telekom Austria increased to 6.7% on Friday, and once it buys the 16% stake, the total interest will rise to around 23%.

-America Movil said the acquisition positions it as a long-term strategic partner of Telekom Austria and is part of its geographic diversification strategy, allowing for an attractive presence in Central and Eastern Europe.

-Write to the Frankfurt Bureau at djnews.frankfurt@dowjones.com