Mexican billionaire Carlos Slim has bought 3.2 per cent of Spanish media conglomerate Prisa (Promotora de Informaciones). Slim used his Grupo Carso’s investment arm (Immobilaria Carso SA) as the acquisition vehicle.
Prisa’s share price has fallen dramatically by more than 50 per cent this year, although on November 18th they rose 12 per cent on the day to 84 Euro-cents, valuing the company at some €752 million ($1bn).
Some analysts suggest that while it is positive news for Prisa it could mean the start of a more aggressive move by Slim. Prisa, as well as publishing Spain’s best-selling newspaper, El Pais, also holds a 17 percent stake in Mediaset Spain, which broadcasts Spain’s biggest commercial TV network.
Slim is judged the world’s richest person by Forbes.