AUSTRIA: TELEKOM SHARES FROM 2 NOVEMBER 2000

Article Abstract:

Investors will be able to subscribe shares of Telekom Austria (TA) from 2 November 2000. OIAG, which now holds 74.9% of the stock, is to sell a 25% stake and spend the money on amortising debts. The shares will be quoted on the Vienna and New York stock exchanges for the first time on 21 November 2000. Stock exchange sources criticise the fact that the subscription period will start on the day of Austria's UMTS auction. Those potential investors that wait for the result of the auction will not be able to benefit from the 5% discount of early bookers. Another bonus is offered to those who keep their shares until TA's AGM in 2002. They will get 1 share free for every 10 TA shares. OIAG expects to raise up to Sch 30bn by selling the TA stake, which would require an issue price of just under EUR 18. However, analysts predict that price will be closer to EUR 11.

Publisher: Unabhaengige Tageszeitungs fuer Oesterreich
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000

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AUSTRIA: TELEKOM BOARD RESIGNS

Article Abstract:

The supervisory board of Telekom Austria has accepted the resignation of Werner Kasztler and the three other directors of the former telecoms monopoly. They will, however, continue to manage the business of Telekom Austria until successors are appointed. Rudolf Fischer, who resigned as technical director, is to stand for re-election. The Austrian government is expected to raise between Sch 75bn and Sch 200bn by selling its 75% stake in Telekom Austria. The first tranche of Sch 25bn is to be raised in autumn 2000.

Publisher: Unabhaengige Tageszeitungs fuer Oesterreich
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
TELEKOM BOARD

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AUSTRIA: ADVERTISING CAMPAIGN FOR TELEKOM SHARES

Article Abstract:

Sch 100mn is to be spent on advertising for the stock exchange launch of Telekom Austria (TA). The former monopoly has launched an extensive restructuring programme, which involves costs of Sch 5bn in year 2000 alone. The stock exchange launch of 25% of TA shares is expected to raise up to Sch 40bn for OIAG which now holds 74.9% of the stock and is to spend the money on amortising debts. A spokesman for CA IB, which is managing the stock exchange launch, says that the aim is to double the share of Austrians who own shares from 7% at present.

Publisher: Unabhaengige Tageszeitungs fuer Oesterreich
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
Securities & Commodities Exchanges, Securities and Commodity Exchanges, Security and commodity exchanges, Advertising, Debt & Equity Securities

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Subjects list: Austria, Telecommunications industry, Telekom Austria
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