Schoenherr has released a statement updating the a story initially reported by CEE Legal Matters on April 24 on the negotiation and completion of a shareholders' agreement between OIAG and America Movil regarding shares the two hold in Telekom Austria.
As explained previously, the shareholders’ agreement – once all regulatory approvals are completed – will trigger a mandatory takeover offer that has to be made by America Movil, and provides for a capital increase in Telekom Austria of up to EUR 1 billion.
A statement just released by Schoenherr explains that the public offer mandated by the Shareholders' Agreement has been launched, at a price of EUR 7.15 per Telekom Austria share – thus the volume of the public offer exceeds EUR 1.4 billion -- and with a duration of 8 weeks (until July 10, 2014).
Schoenherr advised Carso-Telecom AMX on the shareholders’ agreement, and on all aspects of the public takeover offer. The public offer remains 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 firm's team was led by Partner Christian Herbst, assisted by Partner Florian Kusznier and Associates Sascha Schulz and Maximilian Lang. Partner Volker Weiss and Associate Evelin Hlina worked on the matter as well.
