Tag: Carlos Slim

Carlos Slim: not world’s richest man

May 17, 2013 3:39am by Adam Thomson

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Almost like Pavlov’s dogs, journalists and business commentators covering Carlos Slim only have to mention the name before they find themselves following it with the phrase “the world’s richest man”. But as of this week, the Slim watchers out there are going to have to resist their conditioned response.

On Thursday, Bloomberg reported that the Mexican telecoms tycoon had been toppled from the number-one spot on the news agency’s all-time rich list. And guess who’s back in front….yep, it’s Bill Gates. Continue reading »

Tags: Carlos Slim Posted in LatAm, Mexico | Permalink

Mexico telecoms reform: almost there

May 1, 2013 12:30am by Pan Kwan Yuk

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It’s not quite a done deal yet. But it’s getting there.

Mexico’s Congress on Tuesday voted overwhelmingly in support of a sweeping reform bill that could break open the country’s telecommunications and broadcasting sectors and introduce more competition in the two tightly-held markets.

But while the Senate voted 108-3 to approve the bill (which has already been passed by the lower house), a number of constitutional changes included in the reform package still need to be approved by two-thirds of Mexico’s 31 state legislatures before it can become law. Continue reading »

Tags: America Movil, Carlos Slim, Mexico telecoms, telecoms reform, Televisa Posted in LatAm, Mexico | Permalink

Slim helps Homex make prison break

Apr 19, 2013 10:00pm by Adam Thomson

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Just when the gloom seemed to be getting too much for Homex, the leading homebuilder in Mexico by revenues, there was light: the company’s shares and bonds rocketed on Friday after it announced a deal to sell a chunk of its prisons business for 4bn pesos ($326m).

And guess who bought it…telecoms tycoon Carlos Slim. Continue reading »

Tags: America Movil, Carlos Slim, Homex, Mexico homebuilders, prisons Posted in LatAm, Mexico | Permalink

Carlos Slim takes the triple jump

Apr 5, 2013 9:31pm by John Paul Rathbone

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Lots of long faces among Colombian media executives – and doubtless other Latin American media executives too – about Carlos Slim’s latest move.

Late last month, the Mexican telecoms tycoon snapped up exclusive Latin American broadcast rights for the 2016 Rio de Janeiro Olympics. In doing so, his telecoms company, América Movíl, has effectively cornered the market for sports content in a sports-crazy continent (bar Brazil, where media empire Globo bought the Olympic rights). Continue reading »

Tags: America Movil, Carlos Slim, telecoms, television Posted in LatAm, Mexico | Permalink

America Movil: time to buy?

Mar 16, 2013 12:23am by Adam Thomson

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At what point do América Móvil shares start to look cheap? Investors have several ways of deciding the true value of the company controlled by Carlos Slim, the world’s richest man. But more than a few are doubtless mulling the question this week after shares in the pan-American telecoms company plunged 9.3 per cent since Monday morning. Continue reading »

Tags: America Movil, Carlos Slim, Mexico equities, telecoms Posted in LatAm, Mexico | Permalink

Peña Nieto’s telecoms move highlights grip on power

Mar 11, 2013 10:26pm by Ron Buchanan

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Exciting times in Mexico. Enrique Peña Nieto is the first Mexican president since Carlos Salinas de Gortari, a quarter of a century ago, to seize the reins of power with both hands. And on Monday he announced his most recent assault on the often shadowy special interests that are seen as resistant to any attempts to overturn decades of misfiring in the Mexican economy.

Having celebrated at the weekend his first 100 days in power with a claim that “I’m here to transform the country, not simply run it”, on Monday Peña Nieto unveiled a plan to reform telecommunications, a sector long criticized as being dominated by the three “titans” of the industry. Continue reading »

Tags: America Movil, Carlos Slim, Enrique Pena Nieto, Mexico telecoms Posted in LatAm, Mexico | Permalink

América Móvil Q4: not as disastrous as you think

Feb 14, 2013 12:15am by Adam Thomson

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It is not often in the world of Carlos Slim that things go wrong. The Mexican businessman and the world’s richest man has built his huge fortune on astute decisions, calculated risk-taking and, above all, impeccable timing.

So it is hardly surprising that comments started flying on Wednesday when the share price of América Móvil tanked. The stock ended the day’s trading at 14.16 pesos in Mexico City, a loss of more than 10 per cent and the steepest one-day fall in at least four years. Continue reading »

Tags: America Movil, Carlos Slim, corporate earnings, Mexico corporate earnings, telecoms Posted in LatAm, Mexico | Permalink

Sanborns IPO: a bright spot in a not so swell week for Carlos Slim

Feb 8, 2013 10:01pm by Ron Buchanan

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Carlos Slim closed the week with a successful $950m IPO of his Sanborns retail and restaurant chain whose tastes reflect the quintessence of the growing Mexican middle class.

Priced at 28 pesos a share, Sanborns see-sawed a little before hitting 28.31 in late trading on Friday. Continue reading »

Tags: Carlos Slim, IPOs, Mexico IPOs, Sanborns Posted in LatAm, Mexico | Permalink

Carlos Slim: time to double down on KPN?

Feb 5, 2013 10:02pm by Ron Buchanan

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So will Carlos Slim write off the €1.7bn that he has spent by taking a 28 per cent stake last year in KPN, the now troubled Dutch telecoms group?

KPN’s decision to stage a €4bn rights issue puts Slim’s América Móvil in a quandary. Should it put up more money to maintain its percentage stake or stay put and swallow its pride as well as its losses? Continue reading »

Tags: Carlos Slim, KPN Posted in LatAm, Mexico | Permalink

Slim Academy? Carlos Slim brings Khan Academy to LatAm

Jan 16, 2013 12:18am by Adam Thomson

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¿Hablas inglés? If the answer is no, help is at hand: Carlos Slim, the world’s richest man, has just signed an agreement to translate the Khan Academy’s online classes into Spanish.

Through his Carlos Slim Foundation, the largest of its kind in Latin America, the Mexican telecoms tycoon has pledged to support the now-famous online academy founded by Salman Khan and popularised on Youtube. Continue reading »

Tags: Carlos Slim, education, Khan Academy, philanthropy Posted in LatAm, Mexico | Permalink

Big payday awaits Carlos Slim in Sanborns IPO

Jan 11, 2013 10:34pm by Ron Buchanan

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Iconic photographs of Emiliano Zapata’s rough-hewn peasant army at the beginning of last century showed the blue-tiled colonial mansion of the Sanborns restaurant and retail store that is one of the best known buildings in the heart of Mexico City.

The rebels were entering what then was the inner sanctum of a minuscule middle class. Nowadays, though no longer a sanctum, Sanborns remains a symbol of middle-class lifestyle that Carlos Slim, the world’s wealthiest tycoon, has expanded into a chain of more than 400 establishments, many of them beacons of well-being in areas that once were on the very wrong side of the tracks.

This week, Slim has decided to return the chain back to the stock market from which he withdrew it six years ago. Continue reading »

Tags: Carlos Slim, IPOs, Mexico IPOs, retail, Sanborns Posted in LatAm, Mexico | Permalink

Slim, Lafarge team up on cement

Jan 9, 2013 11:49pm by Ron Buchanan

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Carlos Slim is not one to waste any time.

Having only announced three months ago that Elementia, his building materials conglomerate, would enter the cement-making business, the world’s richest man on Wednesday announced plans to scale up the unit by teaming up with Lafarge, the world’s largest cement maker. Continue reading »

Tags: Carlos Slim, cement, Elementia, Lafarge Posted in LatAm, Mexico | Permalink

Carlos Slim takes aim at Netflix

Nov 30, 2012 12:29am by Ron Buchanan

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Trust Carlos Slim! Just when most of the rest of Mexico is preparing for Saturday’s inauguration of Enrique Peña Nieto as president, the world’s richest man has titillated the taste buds of a TV crazy nation.

On Friday, Slim’s América Móvil will launch in Mexico a Netflix-style service known as Clarovideo. Subscribers to Clarovideo – which is already underway in several other Latin American countries – will pay only about $5 a month, some two thirds the cost of Netflix. Continue reading »

Tags: America Movil, Carlos Slim, Clarovideo, Netflix Posted in LatAm, Mexico | Permalink

Colombia: rising up against Slim [updated]

Oct 26, 2012 7:39pm by Andres Schipani

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It is quite a usual picture when protestors burn the flag of this or that country as an expression of their political or religious anger. It is quite an unusual picture, however, when a local councilman burns up the flag of a mobile phone operator outside the city council.

The mobile operator in question is Claro, a unit of Carlos Slim’s América Móvil. And the flag burning underscores the simmering resentment over Claro’s 60 per cent lock over local market. Continue reading »

Tags: America Movil, Carlos Slim, Claro, Colombia telecoms, telecoms Posted in Colombia, LatAm | Permalink

A bad week for Señor Slim

Oct 25, 2012 9:09pm by Ron Buchanan

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Even the wealthiest man in the world has bad weeks, or at least difficult ones.

And this has been one for Carlos Slim, the Mexican telecoms, retail, mining, construction – you name it – magnate. Continue reading »

Tags: America Movil, Carlos Slim, mobile phones, telecoms Posted in LatAm, Mexico | Permalink

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Tag: Carlos Slim

Carlos Slim: not world’s richest man

Mexico telecoms reform: almost there

Slim helps Homex make prison break

Carlos Slim takes the triple jump

America Movil: time to buy?

Peña Nieto’s telecoms move highlights grip on power

América Móvil Q4: not as disastrous as you think

Sanborns IPO: a bright spot in a not so swell week for Carlos Slim

Carlos Slim: time to double down on KPN?

Slim Academy? Carlos Slim brings Khan Academy to LatAm

Big payday awaits Carlos Slim in Sanborns IPO

Slim, Lafarge team up on cement

Carlos Slim takes aim at Netflix

Colombia: rising up against Slim [updated]

A bad week for Señor Slim

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