Report: America Movil's Slim could make bid for a large piece of Telekom Austria

Carlos Slim, the owner of telecom conglomerate America Movil (NYSE: AMX), has been in talks with two of Telekom Austria's main shareholders, according to a report in Austrian magazine Format that did not cite specific sources.

The report revealed that Slim had spoken to Ronny Pecik about the 20 percent stake he and a partner has in the Austrian service provider. He reportedly also had talks with Telekom Austria's largest stakeholder, OeIAG, which currently owns a 28.4 percent stake in the telco.

While this is the second time that Slim was cited as a "white-knight" investor for the European provider, details of the talks could not be confirmed, and an America Movil spokeswoman would not comment on Format's report.

Having built a large telecom service presence in 16 Latin American countries through various mergers and acquisitions, the Mexican tycoon is now seeking out opportunities in the European telecom market.

Besides Telekom Austria, Slim offered $3.5 billion to obtain a larger stake in Dutch service provider KPN, a deal it says is part of a "long-term" strategic investment and not a takeover. However, KPN countered that America Movil's €8 per share offer "substantially undervalues" KPN.

According to Reuters, Pecik and Sawiris plan to pursue seats on an expanded supervisory board at Telekom Austria and that they would retain their stake in Telekom Austria for two years before seeking a buyer.

For more:
- Reuters has this article

Related articles:
Rumour Mill: Is Mexico's Carlos Slim stalking Telekom Austria?
America Movil, KPN step up investment dance
KPN hits back at América Móvil offer, unveils new strategy

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