November 28, 2011 5:41 AM GMT
Is Egyptian telecoms tycoon Naguib Sawiris trying to take over Telekom Austria?
RPR Privatstiftung, owned by Ronny Pecik, upped its stake to 15.81% via direct and indirect holdings on Friday. Pecik was previously linked with a consortium including Sawiris that intends to acquire up to 20% of the Austrian incumbent.
While 20% is clearly not a controlling stake, it would give the tycoon some say in the running of the operator. There is also speculation that Pecik may be acquiring shares to sell on to another European telco in a bid to get round Austrian laws on foreign ownership.