ROME-Telecom Italia won the 25-percent stake of Telekom Austria up for grabs, beating a competing offer by Ameritech Corp.
Telecom Italia reportedly bid $2.4 billion, more than twice what the Austrian government had hoped for and 18 percent more than the Ameritech bid.
The other 75 percent of Telekom Austria will remain in state-controlled hands for the time being, expected to be sold in an initial public offering in the next two to three years.
