18.06.2012
Carlos Slim's America Movil is spending around US$1.1 billion on a 21 per cent stake in Telekom Austria, the Mexican tycoon's latest move to expand into Europe by scooping up the battered shares of distressed telecom companies.

Mr Slim's arrival in Europe has touched off a period of turbulence in the sector, with industry executives and analysts questioning if it will lead to long-awaited consolidation in some markets like Germany or Spain.

"To change something, an investor needs a stake of at least 25 per cent," said Mr Schmitt. "The speculation on the market is that (Mr Slim) wants more and will quietly buy more on the market.
That should support the price in the months ahead."

-Reuters