Mexican billionaire Carlos Slim buys $127 New York Times stake
guardian.co.uk
Mexican billionaire Carlos Slim, reckoned to be the world's second wealthiest man, has taken a 6.4% stake in the New York Times for $127m (£73m).
The purchase, filed with the Securities and Exchange Commission earlier this week, makes Slim the third largest outside shareholder in the New York Times.
Slim is the world's second richest man with a net worth of $60bn, according to Forbes, behind only Warren Buffett's $62bn.
US reports note that Slim, who earlier this year bought a 1% stake in Independent owner Independent News & Media, has a history of investing in "depressed assets" that he can later sell at a profit.
The purchase comes months after Harbinger Capital Partners purchased close to 20% of the NYT and Boston Globe, securing two seats on the board.
Slim is best known for his telecommunications investments including Telefonos de Mexico and América Móvil, the largest mobile company in Latin America.
His diverse portfolio of investments include Saks, owner of the Saks Fifth Avenue stores, tobacco giant Altria and stakes in the banking, automotive and restaurant sectors.
