Billionaire Slim Adds Saks, Times Stakes for $8.8 Million

Billionaire Carlos Slim spent $8.8 million to boost his stakes in Saks Inc. and New York Times Co., adding to his biggest U.S. holdings as the stock market slumped last week. Saks gained the most in almost a year.

Slim’s Inmobiliaria Carso SA investment fund bought 621,000 Saks shares on Aug. 18 for prices ranging from $7.72 to $8.01, according to regulatory filings yesterday. The Mexican billionaire paid $6.83 to $7.09 for 553,000 Times Co. shares the same day.