America Movil Agrees to Acquire 21% Stake in Telekom Austria

America Movil SAB agreed to buy a 21 percent stake in Telekom Austria AG from investor Ronny Pecik, deepening Mexican billionaire Carlos Slim’s foray into Europe.

Slim’s wireless company purchased 5 percent of the shares and will acquire 16 percent later this year after regulatory approval, a filing today showed. America Movil paid about 9.50 euros a share, said a person with knowledge of the matter, asking not to be identified because the deal is private. Telekom Austria rose 2.2 percent to 8.21 euros at 3:57 a.m. in Vienna, valuing the 21 percent stake at 766 million euros ($967 million).