Carlos Slim Buys Half a Billion Dollars in America Movil Stock
- Filings detail acquisitions through family investment vehicle
- Shares have suffered on Brazil outlook, Mexico competition
Carlos Slim.
Photographer: Chris Goodney/BloombergThis article is for subscribers only.
Billionaire Carlos Slim has spent more than half a billion dollars buying shares of his mobile-phone company America Movil SAB in the six months through February, taking advantage of the lowest prices in six years.
Slim’s family investment vehicle Inversora Carso has spent about $544 million acquiring 729,000 shares since Aug. 10, according to a filing with the U.S. Securities and Exchange Commission on Tuesday and one in December. As of Tuesday’s close, America Movil made up about half of Slim’s $54.1 billion fortune, according to the Bloomberg Billionaires Index, which lists him as the world’s fourth-richest person.