Telecom Italia wins bid for 25% stake in Telekom Austria, beating Ameritech

Article Abstract:

Telecom Italia SpA has won over Ameritech Corp. in the acquisition battle for a 25% stake in the state-owned phone carrier, Telekom Austria. Being a strategic investor, the Italian-based company will steer Telekom Austria into privatization in a period of 3 to 5 years. Telecom Italia's bid, worth $2.38 billion, will give them two seats in the Austrian company's board. It is said that Telecom Italia will profit from the lack of strong competition in the phone market of Austria, where Telekom Austria holds more than 80% of the mobile phone and more than 98% of the land-based phone market. Telecom Italia also owns 25% of Telekom Austria's mobile phone venture.

Comment:

Loses to Telecom Italia in a bid to take a 25% stake in the state-owned phone carrier, Telekom Austria

Telekom Austria

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Swisscom sets deal to acquire big UTA stake

Article Abstract:

Swisscom AG, which is Switzerland's principal telecommunications firm, announced the firm will purchase 50% and one share of United Telecom of Austria, for an undisclosed amount. The management of United Telecom will be handled by the company's present CEO, Helmut Schoenthaler, and a Swisscom representative, who will be named in due time. According to Swisscom, the company's international expertise could help United Telecom enhance its position in the market. Likewise, Swisscom-United Telecom partnership will help United Telecom to broaden its array of services and to introduce products in the Austrian market more quickly.

Comment:

Will purchase 50% and one share of United Telecom of Austria for an undisclosed amount

Swisscom AG, United Telecom of Austria

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Bids for Telekom Austria exceed $1.62 billion each

Article Abstract:

Telekom Austria AG has received offers with value surpassing the $1.62-billion mark, or over 20 billion shillings, for a 25% interest that were made by Telecom Italia SpA and Ameritech Corp. A spokesperson with the Post und Telekommunikation Austria AG, which is the parent company of Telekom Austria, said the group is happy with the offers made by Telecom Italia and Ameritech and both will be placed under consideration. Austria's government is expected to make a decision on the sale later in September 1998.

Comment:

Offers to purchase 25% interest of Telekom Austria in a deal with a value exceeding $1.62 billion

United States, Foreign operations, Telekom Austria AG

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