America Movil (NYSE:AMX)
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1 Year : From May 2012 to May 2013
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).
-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.
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