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.
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