On April 23, 2014 Slim took control of Telekom Austria established in seven Central and Eastern European countries outside Austria, under a 10-year agreement, being his first successful acquisition in Europe. In a syndicate holding structure the Austrian state holding company OIAG's 28 percent are combined with Slim's 27 percent ownership. America Movil will spend as much as $2 billion to buy out minority shareholders in a mandatory public offer and invest up to 1 billion euros ($1.38 billion) into the company, which it sees as "platform for expansion into central and eastern Europe". Labor representatives boycotted attending the OIAG supervisory board meeting for 12 hours criticizing lack of explicit job guarantees.[22]