America Movil to reduce Telekom Austria stake

America Movil will cut its stake in Telekom Austria by 7.8 percentage points to just over 50 percent, it said on Thursday, ahead of an end of year deadline to reduce its holding and increase the Austrian firm's free float. The announcement came the same day that Citigroup said it was launching an issue of bonds exchangeable into 7.8 percent of Telekom Austria's shares, but America Movil's brief statement made no link to that issue. America Movil became the majority owner of Telekom Austria throu