Mexican operator, America Movil announced that it would cut its stake in Telekom Austria by 7.8 percentage points from 59.70 percent to 51.89 percent. The company, which is controlled by the family of billionaire Carlos Slim took control of Telekom Austria in 2014 and had agreed to increase the free float of the former state monopoly within two years.
Meanwhile, the Operator reported 40.1 percent year-on-year revenue growth in the second quarter of 2016. It operates in a highly competitive wireless market of Mexico where it faces tough competition from Telefonica and AT&T.
It recorded a total of ARS 9.41 billion in revenues for its operations in Argentina (Claro, Telmex), Paraguay (Claro) and Uruguay (Claro). However revenue in home market, Mexico fell 4.3% year-on-year to MXN65.12 billion.
