Luis Carlos Sarmiento

Having just taken a €2bn hit on investing in Europe, Carlos Slim has signed up for more.

Inmobiliaria Carso, a Spanish unit of the real-estate division of Slim’s empire, has snapped up a portfolio of distressed property assets from Spain’s CaixaBank for €428m. 

Now that Colombia’s richest man has clinched a majority stake in the country’s biggest daily newspaper, El Tiempo, speculation about his plans has hit a feverish note.

Luis Carlos Sarmiento (pictured left), whose $10.5bn fortune was built on construction and financial services under the Grupo Aval banner, is buying a 55 per cent stake in El Tiempo from Planeta, of Spain.