Telekom Austria Group: Supervisory Board approves the Reintegration and Merger of the Wireline Companies into Telekom Austria AG (Ad-hoc Release)
Vienna, May 21, 2002: The Supervisory Board of Telekom Austria AG (VSE:TKA; NYSE:TKA) today approved the reintegration and merger of Datakom Austria GmbH, Datakom International Solutions GmbH, Jet2Web Internet Services GmbH and Jet2Web Network Services GmbH into Telekom Austria AG.
Within the framework of the new organization of the Telekom Austria Group these Wireline companies will be incorporated into Telekom Austria AG with effect from 31.12.2001 under universal legal succession and without liquidation.This merger supports the implementation of the Wireline strategy of Telekom Austria through the following objectives:
- Enhancement of the service quality provided to our customers
- More efficient deployment of both internal and external resources
- Implementation of a comprehensive market, product and price strategy
- Further headcount reduction and flexible deployment of human resources
Within the framework of this merger Telekom Austria acquires the 2.5% stake in Jet2Web Internet Services GesmbH hitherto held by the ORF (the Austrian Broadcasting Company). In return the ORF acquires a minor stake of less than 0.2% in Telekom Austria AG. This transaction further strengthens the current existing broadband cooperation between Telekom Austria and the ORF.
Contact:
Telekom Austria AG
Hans Fruhmann
Investor Relations
Tel: +43 (0) 59059 1-20917
E-mail: Hans.Fruhmann@telekom.at
