Carlos Slim ups stake in Telekom Austria

Latin American mobile phones provider America Movil emerged as the surprise acquirer of a 21 percent stake in Telekom Austria, ending weeks of speculation about the plans of one of Austria’s best known corporate raiders. The Mexican group, owned by multibillionaire Carlos Slim, said it had reached agreement to buy the 21 percent stake in Telekom built up over recent months by Ronny Pecik, a leading Austrian financier. America Movil will purchase 5 percent immediately, taking its current stake in Telekom to 6.7 percent, and expects to buy the remainder of Pecik’s holding later this year, after receipt of appropriate approvals. The move came as America Movil is separately pursuing a major share in KPN, the Netherlands telecom group, having just raised its stake in the Netherlands telecom group to 7.3 percent. KPN is resisting the buy-in effort.