Sawiris Says He’s Willing to Raise Telekom Austria Stake to 25%

Egyptian billionaire Naguib Sawiris said he’s happy to raise his stake in Telekom Austria AG (TKA) to as much as 25 percent.

The billionaire has partnered with investor Ronny Pecik on Telekom Austria and they jointly hold just over 20 percent in the company. The Austrian government holds 28.4 percent.

Sawiris, speaking at a conference in Munich yesterday, said he will work with the government, because he “believes” in Telekom Austria, which owns mobile networks in seven eastern European countries.

He said that markets outside Austria were especially attractive. “We will get value out of the company,” he said.

To contact the reporter on this story: Cornelius Rahn in Frankfurt at crahn2@bloomberg.net

To contact the editor responsible for this story: Zoe Schneeweiss at zschneeweiss@bloomberg.net

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