Telekom Austria's 26.8% shareholder, Mexico-based telecommunications company América Móvil S.A.B. de C.V. (AMX), said on April 23, 2014, that it had entered into a shareholder agreement with Telekom Austria's 28.4% shareholder Österreichische Industrieholding AG (ÖIAG), the national industry holding company of the Republic of Austria, which will allow AMX to control Telekom Austria. AMX will launch a tender offer to acquire all outstanding shares. Furthermore, AMX and ÖIAG have agreed to support a capital increase of €1.0 billion in Telekom Austria. We are placing our 'BBB-/A-3' ratings on Telekom Austria and all issue ratings on its debt on CreditWatch positive. The CreditWatch placement reflects the possibility of an upgrade within the 'BBB' category if we assess Telekom Austria as at
