Mergers and Acquistions News
Categories: Media & Information Services
August 24th 2011, 14:24PM
Mexican billionaire Carlos Slim has made further investment in the New York Times Company.
A regulatory filing explains he purchased additional Class A shares in the organisation, which increased his ownership to just over seven per cent.
This comes just after the media group repaid a $250 million (£151 million) loan provided by Mr Slim in 2009.
The purchase was made by his Inmobiliaria Carso SA investment fund and, according to the Financial Times, shares cost between $6.83 and $7.09.
More money was also ploughed into luxury retailer Saks.
Arturo Elias Ayub, Mr Slim's son-in-law and head of strategic alliances at his fixed-line phone company Telmex, said: "We are buying because we feel that the shares are at a very good price and we are increasing our holdings in the two companies."
Last week, it was announced that Scripps Networks Interactive is to purchase a 50 per cent stake in UKTV from Virgin Media.
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