Mexican tycoon Carlos Slim has decided to hike America Movil's stake in Telekom Austria to 26.8% by consolidating his company and family holdings in the Austrian telecom firm.
Austria
Mercedes welcome Ecclestone trial settlement
Formula One needs a strong leader and Bernie Ecclestone's $100 million court settlement to end a bribery trial in Germany is positive for the sport's future, Mercedes motorsport head Toto Wolff said on Saturday.
Class action against Facebook attracts 60,000 users
An Austrian law student said his class action challenging Facebook (FB.O) for alleged privacy violations had gathered support from 60,000 users and passed its first legal review.Max Schrems, who already has a case involving the social network pending at the European Court of Justice, is claiming damages of 500 euros ($663) per user from U.S.-listed Facebook. The $195 billion company has 1.32 billion active users.
Global Founders Capital provides seed funding round for travel app developer Ulmon
Ulmon, the travel app developer based in Vienna, has secured its first round of funding said to be less than $5 million from Global Founders Capital, TechCrunch reported.
European film producers turning to crowdfunding, face different obstacles
Some European filmmakers that have turned to crowdfunding, which is still in its early stage in Europe, are facing a different set of challenges, Variety reported.
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Finland-based IT service firm Tieto inked a deal to buy part of Siemens Convergence Creators' telecom research and development (R&D) for an undisclosed sum to strengthen its products portfolio.
Raiffeisen Bank International reportedly aborted plans to sell its loss-making Hungarian business, saying that selling the asset at a knock-down price would trigger losses it was not prepared to accept.
Raiffeisen Bank International, a subsidiary of Raiffeisen Zentralbank, may hike its equity capital by as much as €2.25 billion in the next six months. The Austrian lender will be selling shares to bolster its weak balance sheet.
Austria's OMV will divest its 45% stake in German oil refinery Bayernoil to Varo Energy for an undisclosed amount. Varo Energy is a partnership between Swiss oil trading firm Vitol and American private equity firm Carlyle Group.
The stock of India-based Mahindra Holidays rose 5% after the company announced it had sold all its shares in two hotel firms in Austria for an undisclosed sum.
The exit of private equity from their investments in contract research organizations (CROs) could threaten its growth, says two financial experts at Partnerships in Clinical Trials.
German multimodal journey planner startup FromAtoB received a seven-figure Series A investment from investors French venture capital firm Seventure Partners and Chief Executive Officier of Ecommerce Alliance Daniel Wild.
The following bids, mergers, acquisitions and disposals were reported on Monday including Greece banking, Fiat, BOFA, Mechel, Saputo, RBS, Lohmann, Carlyle Group, Monte dei Paschi di Siena, Kuwait Airways, Dubai Holding, SunEdison, Blackstone, Greece National Bank, IMG Worldwide, KKR, Babcock, AMR, Orrick, BAC and Fisker Automotive.
CEPT Systems GmbH, a Vienna, Austria-based text processing technology startup raises a total of EUR 1.5 million in seed funding. Backers of this round includes Reventon B.V and Zirngast GmbH (AT).
