(Corrects to remove incorrect percentage outstanding.)
Lone Pine Capital LLC, the hedge fund
run by Stephen Mandel, bought shares in Fomento Economico
Mexicano SAB (FMX) and sold a stake in America Movil SAB (AMX) in the first
Lone Pine bought 6.2 million shares of Fomento Economico
Mexicano, Latin America’s largest beverage maker, and held a
stake worth $198 million as of March 31, according to a
regulatory filing today. The Monterrey, Mexico-based company is
known as Femsa.
The Greenwich, Connecticut-based fund sold 5.4 million
shares of Mexico City-based America Movil, Latin America’s
largest mobile-telephone company.
In the first three months, the fund also bought 3.3 million
shares in JPMorgan Chase & Co. (JPM) It acquired 12.7 million shares
in casino owner Las Vegas Sands Corp. (LVS)
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