Reuters: Regulatory News: Telekom Austria cuts dividend on competition fears

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Telekom Austria cuts dividend on competition fears Sep 24th 2012, 15:50 VIENNA, Sept 24 | Mon Sep 24, 2012 11:50am EDT VIENNA, Sept 24 (Reuters) - Telekom Austria slashed its 2012 dividend to 0.05 euros ($0.06) from 0.38 euros and said there would be no increase in 2013, citing an expectation that competition in Austria would continue to intensify next year. The company said on Monday that domestic competition, adverse economic conditions in central and eastern Europe and regulatory pressure would have a material impact on its financial results and cash flow generation in 2013. Telekom Austria, in which Mexican telecoms billionaire Carlos Slim is trying to buy 26 percent, stuck to its 2012 outlook, which it cut last month.

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