Schoenherr has represented Carso Telecom, a wholly owned subsidiary of the América Móvil group (AMX), in a public takeover offer for all shares in Telekom Austria AG not held by Carso Telecom, AMX, Telekom Austria or the Republic of Austria’s state holding company OIAG.
The public offer launched on 15 May 2014. The offer was triggered by a 23 April 2014 announcement of such offer in connection with the conclusion of a shareholders’ agreement between Carso Telecom/AMX and OIAG.
With an offer price of €7.15 (£5.83) per Telekom Austria share, the volume of the public offer exceeds €1.4bn. The public offer is subject to regulatory approvals and provides for a conversion possibility into a mandatory offer.
Schoenherr advised Carso Telecom/AMX on all aspects of the preparation and launch 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 (associate, corporate/M&A), as well as Volker Weiss (partner, competition), Evelin Hlina (associate, competition).
PwC is acting as expert to the bidder Carso Telecom.