Telekom Austria AG — M&A Activity 2002

Jun 28, 2002

News Details

Ad-hoc | 28 June 2002 11:03

Telekom Austria AG english

Telekom Austria: Acquisition of TIM’s Stake in Mobilkom Austria Concluded Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Telekom Austria Group: Acquisition of TIM’s Stake in Mobilkom Austria Concluded Vienna, June 28, 2002: Telekom Austria (VSE: TKA, NYSE: TKA) announced today it has completed the acquisition of Telecom Italia Mobile’s 25% stake in Mobilkom Austria. Telekom Austria acquired Telecom Italia Mobile (TIM)’s 25% stake in Mobilkom Austria through the 100% acquisition of Autel, a wholly owned subsidiary of TIM, for a total consideration of EUR 716million, of which EUR 26million represents the dividend for the fiscal year 2001. The consideration was financed through credit facilities available in the Austrian domestic bank market. The transaction simplifies Telekom Austria Group’s corporate structure and provides full access to Mobilkom Austria’s cash flows. The acquisition of Mobilkom Austria is the first step in a gradual and co-ordinated exit of Telecom Italia from Telekom Austria Group and further privatisation steps of ÖIAG. In addition, Boris Nemsic, the CEO of Mobilkom Austria, will join Telekom Austria’s Management Board alongside Heinz Sundt, Stefano Colombo and Rudolf Fischer. This move reflects Mobilkom Austria’s increased importance within the Telekom Austria Group as a 100% owned subsidiary. Contact: Hans Fruhmann, Telekom Austria AG, Investor Relations, Tel.: +43 (0) 590591-20917, E-mail: hans.fruhmann@telekom.at end of ad-hoc-announcement (c)DGAP 28.06.2002 ——————————————————————————– WKN: 072000; ISIN: AT0000720008; Index: ATX Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin, Düsseldorf, Frankfurt, München, Stuttgart 281103 Jun 02