Clifford Chance has advised the underwriters in connection with the EUR 1 billion capital increase of Telekom Austria AG.

Today, Telekom Austria AG completed its EUR 1 billion capital increase including a rights offering to existing shareholders and a sale to the market of any shares not subscribed by its shareholders.

The rights offering was supported by the two largest shareholders of Telekom Austria AG: América Móvil Group committed to fully exercise its rights and Österreichische Industrieholding AG committed to exercise its rights in so far as it was required to keep its pre-rights offering shareholding percentage.

Deutsche Bank and Citigroup acted as Joint Global Coordinators and Joint Bookrunners and Erste Group, Raiffeisen Centrobank and UniCredit acted as Joint Bookrunners. 

Clifford Chance advised the underwriters as their international counsel including advice under U.S. law.

The Clifford Chance team consisted of partners Dr. George Hacket (Banking & Capital Markets, Frankfurt) and Avrohom Gelber (Tax, New York), counsel Barbora Moring, senior associate Dr. Axel Wittmann and associates Ryan Dunmire, Peter Vlasek and Sarah Steece (all Banking & Capital Markets, Frankfurt).