PRESS RELEASE
23 February 2023

Schoenherr Advises América Móvil On Extension Of Its Partnership With OBAG As To Telekom Austria Including On A Spin Off By Telekom Austria Of Its Tower Business

SA
Schoenherr Attorneys at Law

Contributor

We are a full-service law firm with a footprint in Central and Eastern Europe providing local and international companies stellar advice. As the go-to legal advisor for complex commercial matters in the region, Schoenherr aims to use its proximity to industry leaders, in developing practical solutions for future challenges. We keep a close eye on trends and developments, which enables us to provide high quality legal advice that is straight to the point.
Schoenherr advised Amércia Móvil as the controlling shareholder of Vienna Stock Exchange listed Telekom Austria on the terms of a ten-year extension of its shareholder...
Austria

Schoenherr advised Amércia Móvil as the controlling shareholder of Vienna Stock Exchange listed Telekom Austria on the terms of a ten-year extension of its shareholder agreement with Oesterreichische Beteiligungs AG (OBAG) and on related measures. The arrangements executed on 6 February 2023 included support for a long-term investment package in the extension of the company's fibre-optic and high-speed internet networks with a total volume of EUR 1bln. On 20 February 2023, América Móvil and OBAG agreed to support the spin off by Telekom Austria of its entire tower business in Austria and CEE into a separate legal entity to be listed on the Vienna Stock Exchange. The supervisory board of Telekom Austria approved the project. The implementation of the tower spin off, which will involve further corporate and regulatory approvals, is expected in the second half of 2023.

América Móvil is a Mexican telecommunications provider headquartered in Mexico City, providing state-of-the-art communication solutions and digital content to more than 265 million mobile customers worldwide.

OBAG is an independent holding company managing ten companies partially or fully owned by the Republic of Austria, with a total portfolio value of about EUR 33bln.

The Schoenherr team advising on all aspects of the transactions was led by both Christian Herbst (partner) and Sascha Schulz (partner) and further included Günther Leissler (partner) and Markus Fasching (associate).

PRESS RELEASE
23 February 2023

Schoenherr Advises América Móvil On Extension Of Its Partnership With OBAG As To Telekom Austria Including On A Spin Off By Telekom Austria Of Its Tower Business

Austria

Contributor

We are a full-service law firm with a footprint in Central and Eastern Europe providing local and international companies stellar advice. As the go-to legal advisor for complex commercial matters in the region, Schoenherr aims to use its proximity to industry leaders, in developing practical solutions for future challenges. We keep a close eye on trends and developments, which enables us to provide high quality legal advice that is straight to the point.

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