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Schoenherr advised América 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).
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