Telekom Austria Falls After Hybrid Bond Report: Vienna Mover

Telekom Austria AG (TKA), partly owned by billionaire Carlos Slim’s America Movil SAB de CV, fell today after a report said the company was considering an 800 million euro ($1.05 billion) hybrid bond.

Shares fell as much 0.098 cents, or 1.67 percent, to 5.77 euros each and traded at 5.80 euros at 9:50 a.m. in Vienna. It was the biggest intra-period drop since Dec. 3 and gave Telekom Austria a 2.6 billion euro market value.

The company needs to raise funds to acquire and extend licenses for radio-frequency spectrum in Austria later this year, state-asset agency chief Rudolf Kemler told News magazine in an interview published today. The state-asset agency, or OeIAG, is Telekom Austria’s biggest shareholder, owning 28 percent of the stock.

Telekom Austria spokesman Peter Schiefer declined to comment on the report.

To contact the editor responsible for this story: Jonathan Tirone at jtirone@bloomberg.net

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