Carlos Slim’s America Movil Increases Stake in Telekom Austria

Billionaire Carlos Slim is increasing his bet on Austria’s biggest phone company.

Slim’s America Movil SAB acquired a 5.55% stake in Telekom Austria AG from a private investor, the company said in a filing to the Mexican stock exchange on Monday. The sale increased the company’s shareholding to 56.55% from 51%.

The move is the latest in what’s been a busy year for the billionaire. Just last week, Fomento de Construcciones y Contratas SA approved an initial public offering of its own shares to reduce share capital by 7%. In June, America Movil sold about $1 billion of Mexican peso-denominated ...