Slim to Buy AT&T Stake in America Movil

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June 30 (Bloomberg) –- Bloomberg Billionaires’ Matt Miller discusses the reasons why Billionaire Carlos Slim is purchasing AT&T’s 8.3% stake in America Movil for $5.6B. He speaks to Anna Edwards and Mark Barton on Bloomberg Television’s “Countdown.” (Source: Bloomberg)

What is in it for him?

He already has a sizable piece and he is going to own more of it.

It is more control over a company he started and essentially a monopoly over the mexican and latin telecommunications industry.

He is able to control more of this company.

His net worth will certainly soar because at&t is going to sell it at a premium.

He will have to deal with a lot more headaches in terms of the monopoly and the discussion with the mexican government.

They already do not like the amount of control he has.

This gives him more.

At&t has got to get out because they have a conflict of interest with directv.

Carlos slim will get closer to bill gates.

The use to be the richest man in the world and now he is the second richest.

He is having a very difficult time.

Half of him -- of his fortune comes from america movil.

The other half comes from concrete, other plastics.

Finance, a diversified portfolio of infrastructure stocks that allow him to basically control big parts of the mexican economy.

Him and at&t have a relationship going back many years.

That is right.

Basically, able to get on the international stage.

Carlos slim helu leverage that relationship into being able to not only control the mexican telecommunications industry, but all of latin america.

He has holdings in a number of european businesses.

That is right.

There has been a netherlands company that has been trying to -- he has been getting in business with them.

It has been a tough year for carlos slim.

A lot of the market has not like the disagreements with the mexican regulators.

I have not love the fact that he has been going international, going into europe.

He has been down several billion dollars on his net worth this year.

This will prop him back up and get him to even.

He wants to be number one again.

I do not know.

It is unclear as to whether these guys care.

Most of these fortunes are family fortunes anyway, split amongst sons and daughters.

Five children.

At his right.

-- that is right.

Between them, this is a family

This text has been automatically generated. It may not be 100% accurate.


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