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Telekom Austria AG — M&A Activity 2012
Nov 27, 2012
762_iss_2012-11-27_fbc0fbb3-67eb-457e-a268-7dc1e40dbedf.pdf
M&A Activity
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publication: 27.11.2012 11:00 source: http://adhoc.pressetext.com/news/1354010400091 keywords: YESSS! / Acquisition / Austrian Cartel Court
Adhoc announcement according to article 48d section 1 BörseG
Telekom Austria AG: Austrian Cartel Court Decides on Acquisition of YESSS! by Telekom Austria Group
(Ad-Hoc)
Vienna (pta010/27.11.2012/11:00) - Vienna, 27 November 2012: Today, the Telekom Austria Group (VSE: TKA, OTC US: TKAGY) has received the decision of the Austrian Cartel Court to approve the proposed acquisition of YESSS! Telekommunikation GmbH ("YESSS!") by Telekom Austria AG without conditions.
This ruling is not yet legally binding (rechtskräftig); it is subject to appeal by the Austrian Federal Competition Authority and the Federal Cartel Attorney within four weeks from service of the decision. Any such appeal has a suspensive legal effect, i.e. the proposed acquisition of YESSS! by Telekom Austria AG cannot be closed before the approval by the Austrian Cartel Court becomes legally binding (rechtskräftig).
In addition, the acquisition of YESSS! remains conditional upon the completion of Hutchison 3G Austria Holdings GmbH's indirect acquisition of Orange Austria Telecommunication GmbH ("Orange Austria") which is, inter alia, subject to pending merger control approval by the European Commission. The deadline for the decision of the European Commission is 21 December 2012.
On 3 February 2012, Telekom Austria Group announced that it has agreed to acquire frequencies, base station sites, the mobile phone provider YESSS! as well as certain intellectual property rights currently owned by Orange Austria for a total amount of up to EUR 390 mn.
The approval by the Austrian Telekom-Control-Commission (TKK) for the acquisition of the frequencies to be acquired by Telekom Austria Group is still pending.
| emitter: | Telekom Austria AG Lassallestrasse 9 1020 Wien Austria |
|---|---|
| contact person: | Matthias Stieber |
| phone: | +43 (0)50 664 39126 |
| e-mail: | [email protected] |
| website: | www.telekomaustria.com |
| ISIN(s): | AT0000720008 (share) |
| stock exchanges: | official trade in Vienna |
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