Austrian operator times its announcement after the tower acquisition frenzy ends
Telekom Austria Group has said, in a note to investors, that it intends to spin off its mobile tower assets into a separate entity.
The note said that the two main shareholders, América Móvil (AMX) and Austrian state-owned wealth fund Österreichische Beteiligungs (OBAG), “have agreed to support a spin-off of the mobile towers into a separate company the shares of which are planned to be listed on the Vienna Stock Exchange [pictured] and distributed proportionally to Telekom Austria AG’s shareholders. A decision about the spin-off is subject to all relevant corporate approvals.”
This seems a rather late entry to the European towerco party but perhaps the shareholders were waiting for the crazy days of peak acquiring to calm down and reality to bite?