Mexico’s Slim Reaches Deal with Telekom Austria

Mexican billionaire Carlos Slim struck an 11th-hour deal with the Austrian government on Wednesday to pool their stakes in Telekom Austria, paving the way for Slim to take control of the Austrian phone company.

Slim's telecoms giant, America Movil (AMXL.MX), agreed to vote in favor of a 1 billion euro capital increase for Telekom Austria (TELA.VI) and to pay 7.15 euros a share for the company's outstanding shares, in a deal that will see it combine its stake with Austrian state holding company OIAG.

America Movil already holds 26.4 percent of Telekom Austria . . .

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