AT&T Signals Interest in Mexico as Carlos Slim Unloads Assets

September 17, 2014

09/16/14 The Wall Street Journal

financeA top AT&T Inc. executive said the company is open to acquisitions in Mexico, where the telephone giant controlled by former partner Carlos Slim is planning to sell assets. América Móvil has said it would sell off parts of its sprawling operations to cut its market share to below 50% from about 70% to avoid a regulatory crackdown, creating a rare opening for an acquirer to get a foothold in the country.

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Mexico’s Televisa Parts Ways With Grupo Salinas

September 16, 2014

09/11/14 The Wall Street Journal

finance-market_dataMEXICO CITY—Shares of Mexican broadcast and media company Grupo Televisa fell Thursday after the company sold its 50% stake in mobile carrier Iusacell at a loss, parting ways with businessman Ricardo Salinas after a three-year partnership in the venture. The sale, which needs regulators’ approval, closes a chapter in which the country’s two broadcast magnates—Mr. Salinas and Televisa Chairman Emilio Azcárraga —teamed up in the mobile venture to compete against billionaire Carlos Slim‘s América Móvil.

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Mexican Tycoon Carlos Slim Is Expected To Bid To Build Mexico City’s Futuristic New Airport

September 15, 2014

09/11/14 Forbes

airportLast week, the Mexican government announced that world-renowned British architect Norman Foster and Mexican architect Fernando Romero, a son-in-law of tycoon Carlos Slim Helú, had won the bidding for the design of a new futuristic, spider-shaped gigantic airport for Mexico City.

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Mexico’s Richest Man Urges Young U.S. Immigrants Into Workforce

August 14, 2014

08/14/14 Bloomberg

 

Carlos Slim

Carlos Slim

Carlos Slim, the Mexican billionaire who ranks as the world’s second-richest person, has introduced a campaign to integrate about half a million young immigrants into the U.S. workforce.

About 1.1 million people in the U.S. are eligible for work authorization under a program known as Deferred Action for Childhood Arrivals, or DACA, for undocumented immigrants who arrived to the country as children. Only about half have been approved, Carlos Slim Foundation Chief Executive Officer Roberto Tapia-Conyer said in a phone interview.

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Mexico’s Carlos Slim Reclaims World’s Richest Man Title From Bill Gates

July 16, 2014

07/15/14 Forbes

 

Carlos Slim

Carlos Slim

Carlos Slim Helú is once again the world’s richest person, thanks in large part to a sharp increase in telecom giant América Móvil’s share price both in U.S. and Mexican markets. Slim bumped Microsoft (NYSE:MSFT) cofounder Bill Gates from his perch as the world’s richest, a post Gates has held since May 2013.

The move happened on Tuesday when the value of Slim’s phone company América Móvil’s (NYSE:AMX), his largest holding, rose 1% or $805.6 million, pushing his net worth to Forbes estimate of $79.6 billion, against Gates’s estimated $79.1 billion net worth.

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Slim’s Elementia Said in Talks to Buy Out Lafarge in Mexico

July 15, 2014

07/15/14 Bloomberg

modern glass silhouettes of skyscrapers at nightElementia SA, the Mexican cement maker backed by billionaires Carlos Slim and Antonio del Valle, is in talks to buy out partner Lafarge (LG) SA in their joint venture, people with knowledge of the matter said.

Elementia has the right to buy Lafarge’s 47 percent stake under an option described in the original terms of the Mexico partnership, said two of the people, who asked not to be identified discussing private negotiations. Lafarge wants to avoid competing with itself in Mexico after agreeing in April to a $40 billion merger with Holcim Ltd., which already operates in the Latin American nation, two people said.

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Mexico telecom overhaul passes, billionaire Carlos Slim loses — maybe

July 11, 2014

07/09/14 Los Angeles Times

Carlos Slim

Carlos Slim

Mexican legislators on Wednesday passed a sweeping overhaul of the telecommunications industry that officials maintain will help break up monopolies and provide better service and more competition in the TV and telephone market.

Anticipating the approval, Mexican telephone tycoon Carlos Slim — listed by Forbes magazine as the second-richest man in the world thanks to the near-monopoly he and his family hold — announced he would sell off part of his empire to avoid a series of regulatory restrictions the new laws impose on any company with more than a 50% market share.

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