Share price performance and sector comparison

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Following a volatile first quarter characterised by mergers and acquisitions within the sector and the associated extensive processes relating to competition law, the Stoxx Telecom index remained largely stable until half way through the year at a slightly higher level than at the start. Reflecting developments in the European stock markets, it then fell to an annual low in October 2014. The index recovered strongly in the latter half of the fourth quarter and closed the year up 7.5%.

Following a similarly volatile first quarter of 2014, the European stock markets enjoyed a strong performance in the second quarter, achieving their highest level since 2008 in June. In the third quarter the Stoxx Europe 600 index slumped as a result of the crisis in the Middle East before recovering towards the end of the quarter in the wake of monetary policy measures enacted by the ECB. At the start of the fourth quarter markets started to move downwards in response to less favourable IMF forecasts on global economic growth and concerns about the recovery in the eurozone. The resulting losses were more than offset following further ECB measures, before the political uncertainty in Greece as well as the downturn in oil prices and the Rouble had a negative impact on the stock markets in December. Despite this, the Stoxx Europe 600 closed the year up 4.4%.

By contrast, the ATX — the benchmark index of the Vienna Stock Exchange — recorded continuous losses in 2014. While the European markets recovered in the second quarter, the ATX was more affected by the Ukraine crisis due to its strong focus on the CEE region, as well as the crisis in Russia. All in all, the index closed the year down 15.2%.

Development of Telekom Austria share price

Indexed from 1 Jan 2014

Development of Telekom Austria share price (bar and line chart)

Basic information about the Telekom Austria share

 

 

ISIN

AT0000720008

Symbol

TKA

Reuters

TELA.VI

Bloomberg

TKA AV

CUSIP number (Germany)

588811

Listing

Vienna Stock Exchange

American Depositary Receipts (ADS)

1 ADS = 2 ordinary shares

Development of the Telekom Austria share

The share price performance of the Telekom Austria share was primarily driven by the takeover offer by América Móvil in 2014. In the first quarter the share price rose by 31.1% on the back of expectations of a recovery in the Austrian mobile market and takeover speculation. From the publication date of the shareholders’ agreement and the announcement of the takeover offer, the share price remained stable at around the offer price of EUR 7.15 (before retrospective share price adjustment) throughout the acceptance period for the takeover offer and the subsequent additional three-month sell-out period. Following the end of the additional sell-out period, the share price fell away in anticipation of the preannounced capital increase until the publication of the subscription price of EUR 4.57 per share, but remained volatile thereafter. Following the successful completion of the capital increase, the shares resumed trading at EUR 5.40 on 27 November. The Telekom Austria share ultimately finished 2014 up 8.9% on the start of the year.

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Key figures about the Telekom Austria share

 

2014

2013

1)

To ensure the comparability of share price information in case of discounted capital increases historic prices are adjusted retrospectively on the ex-rights date (10 November 2014 in the case of Telekom Austria Group) by the ratio between the ex-rights price and the last closing price before the ex-rights date (7 November 2014 in case of Telekom Austria Group).

Share price low (in EUR)1)

4.93

4.35

Share price high (in EUR)1)

6.99

6.22

Share price as of 31 Dec (in EUR)1)

5.51

5.06

Market capitalisation as of 31 Dec (in EUR billion)

3.7

2.4

Average daily stock market turnover (in EUR million)

9.5

6.1

Number of shares of common stock as of 31 Dec

664,500,000

443,000,000

Number of shares outstanding as of 31 Dec

664,084,841

442,584,841

Share capital as of 31 Dec (in EUR)

966,183,000

966,183,000

ATX weighting as of 31 Dec (in %)

2.2

3.7

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