Telekom Austria Group Raises EUR 997 million

Telekom Austria Group raised approximately EUR 997 million by floating 221.5 million shares. This brings the total number of shares outstanding from 443.0 million to 664.5 million.

Telekom Austria said it intends to use the net proceeds of the capital increase to re-establish its target capital structure and maintain a credit rating of at least BBB (stable) by Standard & Poor's.

http://www.telekomaustria.com/