El Pais Publisher Leans on Slim to Take Aim at Latin America

After losing almost 80 percent of its value in two years, one share of Promotora de Informaciones SA costs less than a copy of El Pais, the best-selling Spanish newspaper published by the Polanco family-controlled company.

The stock was trading at about 75 euro cents ($1) when Carlos Slim, the world’s richest man, bought a 3.2 percent stake in November. After the investment boosted confidence among the Madrid-based company’s lenders over a 2.9 billion-euro refinancing agreement, Prisa is now set to use Slim’s cachet in Latin America to expand in the region.