CHSH has advised ÖIAG in connection with the negotiation and completion of a shareholders’ agreement with America Movil relating to shares in Telekom Austria. ÖIAG currently holds 28.4% and America Movil holds 26.8% of the shares in Telekom Austria. The signing of the shareholders’ agreement triggers a mandatory takeover offer that has to be made by America Movil. The shareholders’ agreement enters into force upon completion of all regulatory approvals, such as merger control, telecommunication regulator, financial markets authority.
Material negotiation results are the agreement on a capital increase in Telekom Austria in the amount of up to EUR 1 billion and the joint growth strategy in Eastern Europe.
The influence of ÖIAG as the Austrian core shareholder is safeguarded by veto rights. An extensive “Austrian Package” has been agreed in favour of Telekom Austria.
Edith Hlawati comments: „It was a great pleasure to represent ÖIAG on this transaction and to negotiate the terms of the shareholders’ agreement that also safeguards Telekom Austria’s interests. We have had a long term relationship with both ÖIAG and Telekom Austria. The mandate was challenging for the negotiation teams due to the tight time frame for the finalisation of the agreements. As the negotiations took place in Mexico City and Vienna, the legal teams had to work nightshifts and over the easter holidays. We are all the more happy about the successful completion!“
The CHSH team was led by partner Dr. Edith Hlawati and consisted of attorneys MMag. Christian Aichinger, MMag. Elisabeth Gruber and partner Dr. Bernhard Kofler-Senoner and his team (merger control, regulatory).