The head of Telekom Austria has told European Communications that he is pleased to have América Móvil as a major shareholder.

The Mexico-based operator increased its stake to 23 percent last month as it looks to expand its European footprint.

“I am extremely happy to have them,” said TA CEO Hannes Ametsreiter in a meeting at the Broadband World Forum in Amsterdam.

“They see [Telekom Austria] as an interesting investment opportunity.”

He added that internal discussions were ongoing as regards future strategy, but expectations of any significant changes at the Austrian operator were wide of the mark.

In its own press release announcing the news, AM said it saw its role as “a long-term strategic partner”.

This chimed with comments it made about a similar investment it made in Dutch operator KPN over the summer.

Nevertheless, with both TA and KPN cutting their dividends amid falling revenues and profits, the intentions of AM will continue to be debated.

Ironically, Ametsreiter added that consolidation in Europe “needs to happen”.