Telekom Austria AG (TA1.DE)

EuroTeleSites debuts on Vienna Stock Exchange, shares fall below reference price

In recent developments, EuroTeleSites, a tower spinoff of Telekom Austria (OTC:TKAGY), made its debut on the Vienna Stock Exchange this Friday. However, the company's shares commenced trading at a price lower than expected, marking a 10% drop from the reference price set by its parent company, Telekom Austria. The initial trading price was €4.31 per share, significantly lower than the reference price of €4.95.