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The move happened ~ above Tuesday when the value of Slim’s phone company América Móvil’s (NYSE:AMX), his largest holding, rose 1% or $805.6 million, advertise his network worth to elafilador.net calculation of $79.6 billion, against Gates"s approximated $79.1 billion net worth.
América Móvil"s stock has actually been rising due to the fact that the agency announced plans last week come divest part assets to comply with Mexico’s new antitrust telecom regulations. América Móvil"s shares were sharply higher last Wednesday, 24 hrs after the news of the breakup. The that company shares, which have actually languished the past year together a result of regulatory pressures in Mexico, jumped 10% ~ above the NYSE the day complying with the breakup announcement.
Between July 1 and July 11, Slim’s wide range jumped indigenous $74.5 billion to $79.6, a acquire of $5.1 billion in 12 business days, an indication that investors are applauding Slim"s unanticipated decision to mitigate his phone market share below 50% as a new antitrust telecom legislation mandate comes into play. Investors seem to believe the outcome may actually be better for Slim"s company interests.
Currently, Slim’s América Móvilcontrols 70% of the mobile phone industry in Mexico, and also 80% of landlines.
Mexican president Enrique Peña Nieto signed the bill right into law on Monday in an event attended by Mexico"s height telecom executives, including Carlos Slim Domitt, Slims Helús earliest son and also heir apparent.
Slim dropped from the top of the elafilador.net world Billionaire perform in might 2013 largely due to a spicy drop in América Móvil’s stock, sustained by fears that Mexico’s brand-new antitrust regulations would certainly crumble his telecom empire.
Yet it appears as despite the threat has actually reenergized him. Slim is planning to further broaden his existence in Europe and also Latin America. In a filing with the Mexican share Exchange ~ above Monday, América Móvil said it will certainly acquire an additional 23.47 % stake in Telekom Austria in a buyout offer, lifting the telecom giant"s attention in the agency to 50.8%.
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For the 2014 world Billionaires List, gates took the optimal spot v a net worth the $76 billion, when Slim come in at second richest v a net worth estimated at $72 billion.
As a senior foreign correspondent based in Washington, D.C., ns cover politics, trade and finances for publish media and radio in Mexico. I was Washington correspondent for…Read More
As a senior foreign correspondent based in Washington, D.C., i cover politics, trade and finances for publish media and also radio in Mexico. Ns was Washington correspondent because that the Mexican daily El Financiero during the NAFTA negotiations. My book, "U.S. Ambassadors to Mexico," released both in English and Spanish, addresses the within story the U.S.-Mexican relations as viewed by Washington"s envoys. Monitor me