Antitrust watchdog OKs Slim's Telekom Austria pact

A man makes a phone call behind a
sign of Telekom Austria in Vienna May 8, 2014.

Austria's Federal Competition Agency (BWB) has approved a agreement by Carlos Slim's America Movil and the Austrian government to pool their shareholdings in Telekom Austria, the Austria Press Agency reported.

The two parties agreed in April to pool their stakes, giving them a combined 55 percent of the former state telecoms monopoly and triggering a takeover offer by America Movil that runs until July 10.

The BWB said on Monday it would not refer America Movil's "acquisition of sole control" of Telekom Austria, the largest of three telecom network operators in Austria, to the country's cartel court, APA said.

The BWB was not immediately reachable to confirm the report on Monday, a public holiday in Austria.

Austria's telecoms regulator is also examining the deal, as is the Financial Market Authority because Telekom Austria's Paybox Bank unit has a banking licence.