Mexico's Slim Wins $1B in a Month as Stake Jumps Patricia Laya - Bloomberg News
go to original August 8, 2014

Slim's America Movil holdings v. share price

Billionaire Carlos Slim’s decision to buy out AT&T Inc.’s stake in America Movil SAB has reaped him almost $1 billion in profits in just over a month.

The chart above shows the recent gain in America Movil shares just after Slim boosted his holdings in his flagship company by buying out AT&T Inc.’s 8.3 percent stake at the end of June. Eleven days later, he announced a sale of part of America Movil’s Mexican assets that could be worth $4 billion or more, propelling shares 16 percent for the month of July, leading gains in Mexico’s benchmark IPC index.

The stake Slim acquired from AT&T for $5.57 billion was worth $6.54 billion at yesterday’s close - a 17 percent gain. Investors cheered the breakup because it means America Movil could avoid tough new regulations enacted in a new law designed to stimulate competition in the telecommunications industry dominated by Slim, the world’s second-richest person.

Read the rest at Bloomberg News

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