Antitrust watchdog approves Mexican billionaire Slim’s Telekom Austria pact

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VIENNA – Austria’s Federal Agency (BWB) has approved a agreement by Carlos Slim’s Movil and the Austrian government to pool shareholdings in Telekom Austria, the Austria Press Agency reported.

The two parties agreed in April to pool their stakes, giving them a combined 55 percent of the telecoms monopoly and triggering a takeover offer by America Movil that runs until July 10.

The BWB said on it would not refer America Movil’s “acquisition of sole control” of Telekom Austria, the largest of three telecom network operators in Austria, to the country’s cartel court, APA said.

The BWB was not immediately reachable to confirm the report on Monday, a public holiday in Austria.

Austria’s telecoms regulator is also examining the , as is the Financial Authority because Telekom Austria’s Paybox Bank unit has a banking licence.