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UPDATE 1-America Movil not seeking more Telekom Austria seats

Tuesday, 6 Nov 2012 | 7:03 PM ET

MEXICO CITY, Nov 6 (Reuters) - Carlos Slim's America Movil , the top cellphone company in Latin America, will not pursue an additional seat on Telekom Austria's board for now, Chief Executive Daniel Hajj said on Tuesday.

Mexico-based America Movil bought a 16 percent stake in Telekom Austria in September, raising its holding to 22.8 percent, as part of a foray into Europe that also included taking a large stake in Dutch operator KPN.

Oscar von Hauske Solis, the head of America Movil's fixed-line operations, was elected to the Telekom Austria supervisory board last month.

Hajj also launched on Tuesday America Movil's 4G services in Mexico, which are expected to reach 26 cities by April of next year, or about 65 percent of the population.

The new service uses long-term evolution (LTE) technology, which will boost average speeds on wireless devices to 20 Mb from a current range of 3 Mb to 5 Mb, the executive said. The service is already available in Puerto Rico and Brazil.

LTE-ready handsets from Nokia, Motorola and Samsung will be among the first offers to customers willing to upgrade existing equipment. Other models, including some by Huawei, will come later this year.

Between December and January, Apple Inc's iPhone 5 will also be ready for 4G after a software upgrade, Hajj added.

America Movil shares slipped 0.36 percent to 16.55 pesos Tuesday afternoon, while its New York-traded stock rose 0.39 percent to $25.48.