Slim companies spend over $200 million on America Movil stock

Mexican billionaire Carlos Slim’s bank and his holding company spent over $200 million between November and late February to buy nearly 350 million shares in Slim’s America Movil, according to a U.S. regulatory filing released on Tuesday.

Inversora Carso, a Slim investment vehicle, bought 348.9 million L-type shares in Slim’s telecoms giant America Movil between November and Feb. 26, spending $209.22 million, according to the document released by the U.S. Securities and Exchange Commission.

Grupo Financiero Inbursa, the financial arm of Slim’s empire, bought 50,084 L-type shares for $35,583, the SEC said.

Slim is one of the richest men in the world, controlling a global banking, telecoms, mining and retail empire.

In December, Slim’s holding companies bought up almost 500 million America Movil shares over the course of a few months, spending $416 million.

Inbursa owns 2.1 percent of America Movil stock, while Inversora Carso controls 19.8 percent, according to the filing.

America Movil shares down 2.70 percent on Tuesday, at 12.96 pesos per share.

(Reporting by Gabriel Stargardter; Editing by Leslie Adler)

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