According to a local media report, Egypt-based telecommunications operator Orascom is interested in buying Telekom Austria and has held talks with the operator and its main shareholder. Under this merger, Austria’s government holding company OeIAG would keep a stake in the merged company. The report said Orascom was looking at working with private equity group Weather Investments for financing. Stefano Songini, spokesman of Weather Investments said, he could not comment on whether talks about Telekom Austria had taken place. He said that in general Weather Investments had been talking to a number of large telecom operators. 28% of Telekom Austria is owned by OeIAG on behalf of the government and would need approval from the government for a sale of the stake.Telekom Austria CEO Boris Nemsic said last month he was open but neutral on possible strategic partnerships with other operators.
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Orascom intends to buy Telekom Austria (Egypt)
- September 9th, 2008
- 10:17 am
