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S&P: Telekom Austria unaffected
Standard & Poor's said its ratings and outlook on Telekom Austria AG (BBB/positive/A-2) are not affected by the recent announcement that the company has agreed a memorandum of understanding and exclusivity with the shareholders of Mobiltel AD (BB+/stable/--) to acquire a call right with respect to the purchase of Mobiltel.
According to Telekom Austria, the call right would give the company, at its discretion, the unilateral right to acquire 100% of Mobiltel in late 2005 for a total enterprise value of up to €1.6 billion, S&P said.
S&P said the impact of this potential transaction on Telekom Austria's debt levels would leave the company within the financial parameters of its ratings.
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