Feb
19
Carlos Slim Said to Plan Bigger New York Times Stake This Year
Posted in: UncategorizedBillionaire Carlos Slim plans to exercise warrants by the end of the year that will more than double his stake in the New York Times Co. to as much as 19%, a person with knowledge of the matter said.
Mr. Slim, the world’s second-richest person according to data compiled by Bloomberg, owns stock warrants giving him the right to buy 15.9 million Times Co. shares at $6.36 apiece, less than half their market value as of yesterday’s close.
Once he exercises the warrants, he intends to hold on to the expanded stake rather than sell shares for an immediate profit, said the person, who asked not to be identified because the information is private.
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