Carlos Slim Helú, the Mexican telecommunications billionaire, and his family have acquired a 6.4 percent stake in The New York Times Company, he revealed in a regulatory filing on Wednesday.
Carlos Slim Helú has a history of buying depressed assets.
Mr. Slim, sometimes called the wealthiest man in the world, controls cellular and landline phone companies, a
nd has major investments in retail, construction, banking, insurance, railroads and mining. In March, Forbes magazine estimated his fortune at $60 billion.His spokesman, Arturo Elias, was traveling and not available for comment. His primary company, Teléfonos de México, declined to comment.
The Times Company also declined comment. Its stock closed on Wednesday at $13.96 a share, down 4 cents, giving the Slim family’s 9.1 million shares a value of $127 million.
Mr. Slim has a history of buying depressed assets he can later sell at a profit, and several analysts familiar with his investments say they see the purchase of the Times Company stock in that vein.
In recent years, he has acquired stakes in several companies in the United States, where he has not been known to take a direct role. Those companies have included Saks, owner of the Saks Fifth Avenue stores; the tobacco company Altria; and the telecommunications company Global Crossing.
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