Telekom Austria jumps as main shareholders support mobile towers spin-off plan
07/02/2023 09:16
** Telekom Austria TELA.VI rises 4.8% after its two main
shareholders expressed support for the plan to spin off its
mobile towers into a separate listed company
** "Although the valuation of the towers is unknown for the
time being, this is a great opportunity for Telekom Austria to
realize the value of its tower assets and focus on its core
business," Erste Group Research ("buy") says
** Telekom Austria also says the two main shareholders, AMX
and ÖBAG, have agreed to renew their syndicate agreement for a
term of 10 years
** The stock is on track for its best day since March 2020
if gains hold