Austria’s A1 Telekom to List Its Tower Company Spin Off

UPDATE  A1 Telekom Austria Group says it will list its newly created tower company, EuroTeleSites AG, on the Vienna Stock Exchange, commencing September 22, subject to receiving the necessary approvals.

The decision to spin off A1 Telekom’s passive infrastructure assets is supported by two of A1’s biggest stakeholders: América Móvil (NYSE: AMX), with a majority 51 percent share, and state-owned investment fund ÖBAG which holds 28.42 percent of the business. In June, A1 Telekom’s board appointed Ivo Ivanovski as CEO and Lars Mosdorf as CFO of EuroTeleSites AG, Inside Towers reported.

Vienna-based A1 Telekom, the European unit of América Móvil, provides digital services and communications solutions under the A1 brand to around 27 million customers in Austria, Bulgaria, Croatia, Belarus, Slovenia, North Macedonia, and Serbia. The transaction involves 12,900 cell towers across the seven countries. A1 Telekom shareholders will obtain shares in EuroTeleSites in proportion to their existing shareholdings.

In a statement, A1 Telekom said, “Shareholders of Telekom Austria AG will receive one additional EuroTeleSites share for every four Telekom Austria shares held (the number of Telekom Austria shares held by each shareholder will remain unchanged by the spin-off).”