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Schoenherr Advises America Movil on Agreement with OIAG

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Schoenherr has announced its role in the America Movil - OIAG Shareholders' Agreement for Telekom Austria that was announced by CEE Legal Matters on April 24.

The Austrian firm advised America Movil (AMX) and its wholly-owned subsidiary Carso Telecom in connection with the negotiation and conclusion of the shareholders' agreement with the Austrian state holding company OIAG, regarding their respective participation in Telekom Austria. As explained in the earlier article, as a result of an agreement signed on April 23, the parties will pool their Telekom Austria shareholdings. Upon Closing Carso Telecom/AMX will have control of Telekom Austria. OIAG's position as a core shareholder will be protected by veto rights. As part of the transaction, OIAG and AMX have agreed subject to closing of a Public Offer and approval by shareholders to vote in favor of and support a capital increase in Telekom Austria up to EUR 1 billion.

As a result of the shareholders' agreement, AMX, through Carso Telecom, will launch a public takeover offer pursuant to the Austrian Takeover Act for all outstanding Telekom Austria shares not held by AMX, Carso Telecom, OIAG or Telekom Austria. This Public Offer was pre-announced on 23 April 2014 at EUR 7.15/share. The shareholders' agreement and the Public Offer are subject to various regulatory approvals.

Schoenherr advised AMX and Cargo Telecom on all aspects of the transaction, including corporate, takeover, and merger control laws, and other regulatory aspects. The team was led by Partner Christian Herbst, and included Partners Florian Kusznier and Volker Weiss, as well as Associates Maximilian Lang, Sascha Schulz, and Evelin Hlina.

 

 

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