Mexican billionaire and business tycoon Carlos Slim is looking forward to consolidate his company and family stakes in Telekom Austria. He has given a signal to regulators about his position. The regulators monitor that when stake-holdings attain the big enough volume to trigger takeover bids.

Slim's America Movil will become the owner of 26.8% stake of Telekom Austria after purchasing 3.14% stake from a family foundation. It will make it strong enough to veto big decisions at the Austrian firm. The speculation led Telekom Austria shares to close up 1.3% at 6.60 euros on Thursday.

It is believed now that Carso Telecom B.V. America Movil's European holding company is serious to acquire 26.8% stake. It was previously split with the family foundation.

Telekom Austria said concerns were raised by the takeover commission that America Movil and the Slim family foundation might have to face the heat because of a law that is intended to not allow parties that appear separate to act together to control companies.

America Movil also owns stakes in Dutch group KPN. It is also looking forward to invest outside Latin America as regulation and competition have become a big obstacle for the company to sell its products.