America Movil aims at Europe

Carlos Slim and his America Movil is aiming to enter European market. The Mexican billionaire wants to acquire 51 percent of Telekom Austria and to become the number one share holder.

At the moment, Slim holds almost 27 percent of all shares of the Austrian provider of mobile and fixed phone services, data and Internet services. Sources say Slim agreed to accept diversified holdings worth at least 24 percent of Austrian Telekom so he can become a majority share holder.

Last month, Carlos Garcia Moreno, American Movil finance head said the company wants to extend to Europe. The announcement came after Slim signed a deal with OelAG about a partnership with Telekom Austria.

Carlos Slim is the second richest man on earth with a net worth of 67 billion dollars. He controls America Movil, the largest mobile-phone operator in the Americas. He also has holdings in mining companies such as Minera Frisco and banking (Inbursa).