The world’s richest man maintains holdings in telecommunications (America
Movil), banking (Grupo Financiero Inbursa) and mining (Minera Frisco), as well as Philip Morris, New York Times, Saks and Caixabank. Through his family’s holding company, Grupo Carso, Slim also commands a large presence in the Mexican construction industry.
Efforts by Citigroup Inc. senior executives to tighten controls in Mexico were rebuffed by managers there for at least five years before the U.S. bank found the local unit had suffered a $400 million loan fraud last month, four people with direct knowledge of the matter said.
America Movil SAB and broadcaster Grupo Televisa SAB were ordered by Mexico’s government to share their infrastructure with competitors, part of a bid to cut the market share of the nation’s dominant phone and media companies.
The world’s 300 wealthiest people lost a combined $44.4 billion yesterday as global stocks tumbled the most in a month and the ruble dropped to an all-time low amid Russia’s growing military presence in Ukraine.
Telekom Austria AG, one of two European phone companies part-owned by Carlos Slim’s America Movil SAB, posted fourth-quarter earnings that missed analysts’ estimates and forecast further revenue declines.
When Enrique Pena Nieto ran for president in 2012, opponents nicknamed him the Televisa candidate for what they described as favorable coverage from Mexico’s largest broadcaster. Now as president he’s pushing for more competition that will hurt Grupo Televisa SAB’s revenue growth.
America Movil SAB is discussing an agreement to combine its Telekom Austria AG shares with the Austrian government to form a syndicate, a move that would lead to a bid for full control of the European phone carrier.
Billionaire Carlos Slim plans to exercise warrants by the end of the year that will more than double his stake in the New York Times Co. to as much as 19 percent, a person with knowledge of the matter said.
America Movil SAB, the mobile-phone company controlled by billionaire Carlos Slim, sank to a four- month low after Barclays Plc said the stock looks overvalued as Mexico prepares to implement pro-competition laws.
Canadian Prime Minister Stephen Harper’s frustration with U.S. President Barack Obama’s failure to approve the Keystone XL pipeline may make this installment of the North America summit, known as the “Three Amigos,” the frostiest since the annual meetings began almost a decade ago.