Files under General | Sep
12th
Because they are incredibly cheap.
Because he knows that the paper can do better.
Much better than now.
So, he is going to make money.
The NYT shares rose 1.27, or 9.1%, to $15.23 at 4 p.m. in heavy volume on the New York Stock Exchange after Mr. Slim emerged as the third-largest institutional holder of Class A shares with the acquisition of a 6.4% stake, overtaking even the company’s chairman on the list of top institutional shareholders.
It seems that the investment is merely financial and that Slim had no plans to take a role in the company’s management or board.
In the picture: Carlos Slim with his parents and five brothers and sisters.
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