Slim Family Sees European Crisis as Good Time to Invest By Crayton Harrison - 2012-05-23T16:06:09Z Carlos Slim in New York. Photographer: Chris Goodney/Bloomberg Enlarge image Carlos Slim Domit Susana Gonzalez/Bloomberg Carlos Slim Domit, chairman of Telefonos de Mexico SAB de CV. Carlos Slim Domit, chairman of Telefonos de Mexico SAB de CV. Photographer: Susana Gonzalez/Bloomberg Europe’s debt crisis is providing a “good moment” for Carlos Slim to apply his strategy of investing in times of turmoil, said the billionaire’s son, America Movil SAB (AMXL) Co-Chairman Carlos Slim Domit. America Movil, controlled by the elder Slim, announced a $3.4 billion bid to increase its stake in former Dutch phone monopoly Royal KPN NV earlier this month. While the acquisition would be Slim’s first major European foray, ... Continue reading →

Slim Approached Austria, Not Pecik, on Telekom: Sawiris By Stephanie Baker and Zoe Schneeweiss - 2012-05-23T12:00:55Z Egyptian billionaire Naguib Sawiris said Carlos Slim’s America Movil (AMXL) SAB hasn’t approached him and Ronny Pecik about their stake in Telekom Austria AG. (TKA) “My understanding is that Slim approached the Austrian state,” Sawiris said in a telephone interview today from Egypt. “He didn’t approach us.” Sawiris helped Pecik finance his 20 percent stake in Telekom Austria. America Movil has held “early” talks with investors Pecik and Sawiris on their stake in the company, Kronen Zeitung reported this month, without saying where it got the information. The Austrian state is Telekom Austria’s biggest owner with 28.4 percent via its asset agency OeIAG. A sale of the stake would ... Continue reading →

●Giuseppe Verde (L) and provost Steven Lerman (R) place a hood upon Mexican billionaire Carlos Slim as he received an honorary degree at GW Sunday. (JONATHAN ERNST/Reuters - REUTERS) • Carlos Slim dining at the Palm Friday. The world’s richest man (casually dressed, low key) came in with a party of 14 but no visible bodyguard; had steak, lobster and chocolate cake. In town to receive an honorary degree from GW. Continue reading →

Protestors sing and pray outside the main gate of Georgetown University. (Bill O'Leary/THE WASHINGTON POST) As Kathleen Sebelius addressed Georgetown University graduates Friday morning, the secretary of health and human services felt the wrath of antiabortion activists when someone shouted “murderer!” in an otherwise quiet ballroom. Carlos Slim, one of the world’s richest men, will get his turn Sunday when George Washington University presents him with an honorary degree and Latino activists gather to protest his business practices. An invitation to be seated on the commencement stage is one of the highest honors a university can bestow. Especially coveted is the opportunity to address the graduating class. But universities have learned to be strategic about whom they select because the choices are sometimes fraught with ... Continue reading →

The multichannel diversified retailer plans e-commerce sites in five more countries. Mexico-based retail chain Grupo Elektra plans to build an e-commerce presence far beyond its home turf, with a retail web site expected to launch this year in Argentina and another possibly in Guatemala, says Jorge Perez, director of I.T. for retail and supply chain systems. Elektra also plans to eventually sell online in the three other Latin American countries where it now operates stores, he adds. “We see a lot of potential online,” Perez said in an interview with Internet Retailer at a conference Monday hosted by Manhattan Associates Inc., a provider of supply chain and warehouse management technology. Elektra, which primarily sells consumer electronics but also products in categories including furniture and motorcycles, ... Continue reading →

Acapulco, Guerrero • Poco seria es la labor del presidente de la Bolsa Mexicana de Valores (BMV), Luis Téllez, pues en menos de 20 meses modificó la metodología de composición de sus índices accionarios, afirmó Luis Niño de Rivera, vocero de Grupo Salinas. Posterior a su participación en una conferencia previa a la 75 Convención Bancaria, el directivo de la empresa que dirige Ricardo Salinas Pliego afirmó que los cambios que realizó el mercado involucrarán movimientos en la conformación del Índice de Precios y Cotizaciones en septiembre próximo con lo cual varias emisora, entre ellas, Elektra, podría verse afectada. El directivo comentó que los índices de las bolsas en el mundo son instrumentos que determinan qué tan estable y qué tanta confianza pueden tener los ... Continue reading →

Ricardo Salinas, Grupo Elektra SA (ELEKTRA*)’s chairman and controlling shareholder, is fighting a losing battle to support the stock amid a 58 percent tumble this year. Elektra, a Mexico City-based retail and banking group, plunged 10 percent yesterday, extending its slide from a record high on Jan. 4, after MSCI Inc. (MSCI) (MSCI) said it will remove the stock from its global indexes at month-end. Elektra has used its new brokerage unit to buy back shares at above-market prices over the past four weeks, slowing the tumble in Mexico’s worst- performing stock, data compiled by Bloomberg and the stock exchange show. The company traded at least 1.13 million of its shares, participating in transactions that accounted for 31 percent of volume, through brokerage Punto Casa ... Continue reading →

LIVE AT WTTC MEXICO REGIONAL SUMMIT 2012 A Special Session with Carlos Slim Helú May 17, 2012 Gloria Guevara Manzo, Secretary of Tourism, Mexico, and David Scowsill, President & CEO, WTTC, interview Carlos Slim Helú, Chairman, Grupo Carso, SA. On success, simplify the variables. We need to have a human capital. Not to have too many levels of decisions-no to think-tanks, more focus on action-tanks. When making decision, you make mistakes as well. We have to be very careful with small decisions. Flexible when it comes to decisions and actions. For Mexico to grow, investments are needed on the long run and at a low cost. They key is education, health and investments. The retirement system needs to be reformed. You cannot retire at 60 ... Continue reading →