Telekom Austria Updates on StrategyTelekom Austria Updates on Strategy

VIENNA -- The Telekom Austria Group (VSE: TKA, OTC US: TKAGY) announced an update on its cash use policy and the Group’s future targets at the Capital Market Day, which was held today at the company’s Headquarters in Vienna.

Boris Nemsic, Chief Executive Officer of the Telekom Austria Group said: “While our expansion policy has raised some concern with the financial community in the past, the successful development of our operations in Croatia, Slovenia and Bulgaria has demonstrated our ability to generate rising cash flows from both acquisitions and greenfield operations. We continue to address the challenges we are facing in our domestic markets and we reiterate our commitment to a focused and value-enhancing expansion policy with a view to supplementing our stable domestic cash flows with further growth opportunities.”

Telekom Austria AG (NYSE: TKA; Vienna: TKA)