Telekom Austria AG — M&A Activity 2001

Nov 27, 2001

News Details

Ad-hoc | 27 November 2001 08:36

Telekom Austria AG english

Telecom Italia Informs Telekom Austria; New Wireline Organization Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Vienna, November 27, 2001 – In yesterday’s supervisory board meeting, Telecom Italia informed the management of Telekom Austria (VSE:TKA; NYSE:TKA) that it intends to sell its entire interest in Telekom Austria. Telekom Austria’s other major shareholder, ÖIAG, confirmed its prior statements that working group are formed and that it has hired a financial advisor to consider its options in connection with the sale by Telecom Italia. According to Telecom Italia the sale should be conducted in close coordination with ÖIAG. It is in its initial phase and further details, including structure and timing, have not yet been set. In addition, at the meeting Telekom Austria’s supervisory board authorized the management board to implement its business-oriented wholesale/retail structure. In this connection, the supervisory board approved the following changes in the management board responsibilities: Rudolf Fischer, Chief Technology Officer of Telekom Austria, will add to his responsibilites those of Chief Marketing Officer, which will include regulatory affairs. Stefano Colombo, CFO of Telekom Austria, will from now on be also in charge of information technology related activities. end of ad-hoc-announcement (c)DGAP 27.11.2001 ——————————————————————————– WKN: 072000; Index: ATX Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin, Düsseldorf, Frankfurt, München, Stuttgart 270737 Nov 01