Skip to content
Subscriber Only

Slim Redoubles Europe Push After Crackdown at Home Erodes Wealth

Carlos Slim, whose net worth has shrunk by more than $8 billion this year amid a regulatory crackdown in Mexico, is seeking better returns in Europe.

Slim’s wireless carrier, America Movil SAB, announced plans yesterday to buy the rest of Royal KPN NV, a Dutch phone company in which he already owns a 30 percent stake. The 7.2 billion-euro ($9.6 billion) transaction would mean doubling down on a stock that has lost 43 percent of its value over the past year. Slim also owns a stake in the slumping Telekom Austria AG.