Egyptian-based telecoms group Orascom is looking to acquire Telekom Austria, an Austrian newspaper reported yesterday. According to Reuters, Austria’s Kurier newspaper says that Orascom has approached Telekom Austria and the Austrian government regarding a takeover that would see the government maintain a stake in the merged entity. The government currently owns 28 percent of Telekom Austria via OeIAG, a holding company, and government approval would be required to sell the stake. The report added that Orascom was also talking with its own private-equity owners, Weather Investments, regarding the financing of the deal.

According to Reuters, OeIAG and Telekom Austria were not immediately available for comment, while Weather Investments spokesman Stefano Songini said only that the firm had been talking to “a number of large telecom operators.” Orascom already has subsidiaries in Africa and Europe – including in Italy (Wind) and Greece (Hellas) – and is believed to be pursuing further expansion opportunities. Meanwhile, Reuters notes that Telekom Austria chief executive Boris Nemsic said in an interview last month that he was “open but neutral” on possible “strategic partnerships” with other operators. Telekom Austria is the parent company of the country’s largest mobile operator, mobilkom Austria, which has over 4 million subscribers.