Slim moves closer to Austria deal
Carlos Slim’s America Movil and the Austrian government are moving towards a deal to pool their stakes in Telekom Austria, which would lead to a takeover offer and mark a further step in the Mexican tycoon’s expansion in Europe, Austria’s economy minister said yesterday talks about creating a shareholder pact, which both parties said had been informal so far, could wrap up within weeks. American Movil, which faces increased regulation and competition in Latin America and is looking to expand into a recovering European economy, said on Monday it could move to formal talks with Austria.