Both shareholders agreed on an investment program to expand high-speed connectivity infrastructure in Austria, including fiber and 5G infrastructure.
(EDGARD GARRIDO/REUTERS)
América Móvil entered into a definitive agreement with Österreichische Beteiligungs AG (OBAG) regarding its shareholdings in Telekom Austria AG, and granted Carlos Slim’s company the right to continue nominating the majority of the members of the Board of Directors and to the President and General Director of the Company’s Management Committee, with voting power in all administrative decisions.
América Móvil detailed in a relevant event sent to the Mexican Stock Exchange that the Shareholders Agreement is valid for 10 years from this date and ensures the leadership and control of América Móvil over the Telekom Austria Group.
As part of the renewal of the Shareholders Agreement, América Móvil and OBAG agreed to strongly support the spin-off of Telekom Austria’s towers in most of the countries in which it operates, including Austria.
