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America Movil may seek shareholder pact over Telekom Austria

The logo of America Movil is seen on the wall of the reception area in the company's corporate offices in Mexico City February 13, 2013. REU
The logo of America Movil is seen on the wall of the reception area in the company's corporate offices in Mexico City February 13, 2013. REU

MEXICO CITY (Reuters) - Mexican telecoms giant America Movil said on Monday it could start formal talks to create a shareholder syndicate for Telekom Austria with the company's biggest Austrian stakeholder.

Controlled by billionaire Carlos Slim, America Movil has a 27 percent stake in Telekom Austria and said in a statement it had held discussions with different stakeholders of the Austrian telecoms company, including Austrian state holding company OIAG.

In the statement, the Mexican company did not specify under what conditions it could form a shareholder syndicate. Nor did the company immediately reply to requests for comment.

A shareholders' pact would mean the partners have to vote in unison on major company issues, ensuring OIAG had a say in the company's future even if America Movil raised its stake in the Austrian firm above OIAG's 28 percent.

America Movil said it was unclear whether discussions would result in a syndicate accord. It added that there is no current agreement "in whichever form" with OIAG about Telekom Austria.

America Movil has said it does not plan a hostile takeover offer for Telekom Austria, but a friendly or agreed offer for the majority of the Austrian company has long been expected.

Last week, Austrian magazine News reported that America Movil plans a friendly takeover of Telekom Austria via a shareholder syndicate that could lead to a public share offer.

According to the report, a draft version of the syndicate contract with OIAG envisioned pooling the stakes of the two big shareholders for 10 years with a five-year extension option.

(Reporting by Alexandra Alper and Dave Graham; Editing by Richard Chang)

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