Telekom Austria AG (TKA), one of two European phone companies part-owned by Carlos Slim’s America Movil (AMX:US) SAB, will use a capital markets day tomorrow to discuss the possible release of a new hybrid bond.
“A hybrid bond will be a subject,” Chief Executive Officer Hannes Ametsreiter told journalists today in Vienna, without providing further detail.
Telekom Austria is considering an 800 million euro ($1.1 billion) hybrid bond issue to help finance the acquisition of new radio spectrum in Austria, Rudolf Kemler, head of state- asset agency and 28 percent Telekom shareholder OeIAG, said in an interview published by News magazine on Jan. 3.
Institutional investors and analysts will gather in Vienna tomorrow to attend Telekom Austria’s annual capital markets day. The company, Austria’s worst-performing stock in 2012 with a 38 percent decline, doesn’t publicly transmit information released at such events via the Internet, unlike most competitors.
Investors not attending the capital markets event can receive information after markets close, Ametsreiter said, while adding he did not expect significant news announcements. “We’re probably one of the most transparent companies that exists,” he said.
Telekom Austria, which was under parliamentary investigation for most of 2012 on charges of corruption and insider trading, said Jan. 8 that revenue will fall to about 4.1 billion euros this year, compared with a 2012 forecast for 4.2 billion euros.
It declined to give a full-year profit forecast for the first time in a decade because of “continued low visibility in its major markets”.
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