Telekom Austria Group (VSE TKA, OTC USA: TKAGY) today was informed by the two main shareholders -- AMX and ÖBAG -- that they have agreed to renew their syndicate agreement for a term of 10 years from this date, including certain changes to the management board structure upon expiry of the current term of the management board members.

The company was also informed that the two shareholders have agreed to support a spin-off of the mobile towers into a separate company the shares of which are planned to be listed on the Vienna Stock Exchange and distributed proportionally to Telekom Austria AG's shareholders. A decision about the spin-off is subject to all relevant corporate approvals.