Schoenherr advises América Móvil in public takeover offer for Telekom Austria
Schoenherr has represented Carso Telecom, a wholly owned subsidiary of the América Móvil group (AMX), in its successful public takeover offer of all shares in Telekom Austria not held by Carso Telecom, AMX, Telekom Austria or the Republic of Austria’s state holding company OIAG.
The public offer was launched on 15 May 2014. The initial offer period closed on 10 July 2014. Through the public offer, Carso Telecom/AMX could increase its participation in Telekom Austria from around 27 per cent to around 50.8 per cent. With an offer price of €7.15 (£5.64) per Telekom Austria share, the transaction volume exceeded €740m.
Telekom Austria shareholders can still tender shares in the public offer during the three-month additional offer period.
Schoenherr advised Carso Telecom/AMX on all aspects of the public offer.
The Schoenherr team was led by partner Christian Herbst (corporate/M&A) and also consisted of Florian Kusznier (partner, corporate/M&A), Sascha Schulz (associate, corporate/M&A) and Maximilian Lang (attorney, corporate/M&A), as well as Volker Weiss (partner, competition) and Evelin Hlina (associate, competition).
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