Wolf Theiss has advised Austrian state holding company OeBAG on the extension of its partnership with America Movil concerning Telekom Austria. Schoenherr reportedly advised Telekom Austria.
According to Wolf Theiss, “the shareholder agreement entered into by major shareholders of Telekom Austria is for a term of ten years. The Telekom towers will be spun off into a separate company guaranteeing shareholder rights. The agreement grants an important set of shareholder rights to the Republic of Austria, attached to the 28.42% stake it holds via OeBAG.”
According to the firm, “under the agreement, the parties aim to maintain and reinforce Telekom Austria’s leading position in the Austrian telecom market as well as to further expand its capabilities in Central and Eastern Europe. In this regard, and subject to the completion of the intended tower spin-off, the shareholders have formalized their agreement on a continued investment program with a total value of EUR 1 billion for Austria to accelerate the expansion of high-speed connectivity infrastructure, including fiber-optic roll-out and 5G mobile infrastructure.”
The Wolf Theiss team included Partners Horst Ebhardt, Florian Kusznier, and Robert Wagner, Counsels Doris Buxbaum and Isabel Firneis, Senior Associates Gregor Grablowitz and Christopher Juenger, and Associate Jessica Kerber.
Editor’s Note: After this article was published, Schoenherr announced it had advised Amercia Movil on the Telekom Austria partnership extension. The firm’s team included Partners Christian Herbst, Sascha Schulz, and Guenther Leissler and Associate Markus Fasching.