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Billionaire Carlos Slim Sold New York Times shares for $240 Million

Billionaire Carlos Slim Sold New York Times shares for $240 Million

Mexican billionaire Carlos Slim has sold more than half of 17 percent stake in the New York Times Co. to U.S. hedge fund investors more $240 million.  The sale structure is expected to create tax benefits for the billionaire.

“Slim Sell more than half of his New York Times shares for $240 Million”

After the selloff, he is still the second-largest NYT shareholder, behind Black Rock’s 8.1 percent stake.  He had acquired shares in the New York Times after lending the company $250 million in 2009.

Source: New York Post, Bloomberg

 

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