Billionaire Tycoon Carlos Slim Actively Bidding In Mexico’s Historic Oil Auction

8/25/15 Forbes

carlos-slimWhen Mexico opened its oil and gas sectors to domestic and foreign private capital for the first time in nearly eight decades last year, it was widely expected that Mexican tycoon Carlos Slim Helú would play a leading role in the country’s new energy landscape. However, it was not until recently that this was confirmed: Slim’s companies have been quietly bidding in Mexico’s historic Round One oil auction.

According to Mexico’s National Hydrocarbons Commission (CNH), Carso Oil & Gas, an affiliate ofGrupo Carso , the conglomerate controlled by billionaire Slim, is participating in the second and third tenders of Round One for oil production contracts.

Carso Oil & Gas has enrolled in the second bidding of Round One for five shallow-water production-sharing contracts in nine Gulf of Mexico blocks. Bids are expected on September 30, 2015.

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How Challenging Carlos Slim Is Helping Mexico Tame Inflation (And Why It May Not Last)

8/20/15 Bloomberg Business

Via Bloomberg Business
Via Bloomberg Business

Across Latin America the drop in commodity prices has sent currencies tumbling, spurring faster inflation. Everywhere, that is, except for Mexico. Mexican consumer prices rose 2.74 percent in July from the year earlier, the slowest pace in almost half a century and less than any other major economy in the region.

The last time inflation was this slow in Mexico was 1968, when the Vietnam War was at its height, the Beatles were in the charts with “Hey Jude” and the Soviet leadership was preparing to crush the Prague Spring.

So what makes Mexico different than its Latin American counterparts? Part of the answer lies with billionaire Carlos Slim. An overhaul of Mexico’s telecommunications industry has increased competition for Slim’s America Movil SAB and eliminated domestic long-distance charges for all carriers, slashing communication costs by 12.5 percent in the past year. That’s far more than in any other country in the four-member Pacific Alliance that also includes Colombia, Chile and Peru.

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Black Gold Next Frontier for Top Billionaires: Corporate Mexico

02/26/15 Bloomberg 

532687354_fdef042d72_zMexico’s top three billionaires — Carlos Slim, Alberto Bailleres, and German Larrea — dominate the country’s telecommunications, mining and retail industries. Next up on their priority list: oil. Slim, Bailleres and Larrea, Mexico’s three richest men according to the Bloomberg Billionaires Index, have created branches within their holding companies to compete in the oil and natural gas industries as the country’s government-run energy monopolies end. Bailleres’s Grupo Bal, which oversees mining companies Fresnillo Plc and Industrias Penoles SAB, formed PetroBal to explore for crude in Mexico two weeks ago.

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AT&T’s Mexico deal a cheap foothold outside saturated U.S. market

11/11/14 Reuters

cell-phone-imgaeAT&T’s $1.7 billion agreement to buy Iusacell, Mexico’s No. 3 cellular operator, puts it in the unfamiliar position of market underdog, owning an asset that may require billions in investment to catch up to the market’s two larger players. But analysts and investors say the deal could be a cheap way to get a foothold in Latin America’s second-largest economy and learn the market’s contours before plotting more ambitious acquisitions.To be sure, extending AT&T’s high-speed service across the border will require significant investment in Iusacell’s patchy network, marketing and new retail stores. That growth will put AT&T in direct competition with former ally Carlos Slim’s America Movil, whose shares have fallen some 3 percent since news of the deal.

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Mexico’s telecoms market seeks new signal

10/15/14 Financial Times

carlos slim

Mexico’s telecoms sector, for so long largely the preserve of Carlos Slim’s América Móvil, is in flux. Both Mr Slim and Ricardo Salinas, who bought out television powerhouse Televisa’s share in Iusacell, the country’s third-biggest mobile operator, are looking for new investment. Spain’s Telefónica, the second-biggest mobile company in Mexico with about a 20 per cent market share, hopes the merry-go-round will help it boost its muscle in a country where revenues lag most of its businesses elsewhere in Latin America. The shake-out is the result of tough new telecoms regulations intended to end América Móvil’s stranglehold on the sector. Mr Slim’s fixed-line Telmex service has 80 per cent market share while his mobile business Telcel has 70 per cent.

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Slim Says America Movil May Divest on Mexico West Coast

10/07/14 Bloomberg TV

carlos slimCarlos Slim, the billionaire chairman emeritus of America Movil SAB, and Anthony Kennedy Shriver, founder of Best Buddies International Inc., talk about their global campaign to highlight the benefits of hiring workers with intellectual and developmental disabilities. Slim also discusses business in Mexico, the outlook for American Movil and his partnership with Facebook Inc. Chief Executive Officer Mark Zuckerberg. They speak with Betty Liu on Bloomberg Television’s “In the Loop.”

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Carlos Slim Pledges to Hire Workers With Disabilities

10/06/14 Bloomberg

carlos slim

Carlos Slim, the Mexican telecommunications billionaire who ranks as the world’s second-richest person, is pledging to hire workers with disabilities and asking others to join him. Slim and Anthony Kennedy Shriver, who founded the Best Buddies nonprofit organization to advocate for people with intellectual and developmental disabilities, are introducing a global campaign today that seeks to highlight the benefits of hiring workers with conditions such as Down syndrome and cerebral palsy. Celebrities including actress Cheryl Hines and former Olympic track and field athlete Carl Lewis have already signed the pledge.

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