Telekom Austria to spin off cell tower business
AUGUST 2, 2023 08.44 EUROPE/LONDON BY CHRIS DZIADUL

The shareholders of Telekom Austria Group have decided to spin off the cell tower business to the newly founded EuroTeleSites.

For every four Telekom Austria shares, the shareholders will receive one EuroTeleSites share.

The demerger is expected to be implemented this autumn and EuroTeleSites shares are expected to be listed on the official market of the Vienna Stock Exchange shortly afterwards.