English
Carlos Slim invests in Spanish banking business
Carlos Slim, head at Mexican Grupo Carso, has acquired equity in Spanish financial conglomerate Caixabank, a result of the reorganization process now in force at the Spanish Savings & Loans entities to reduce their indebtedness.The investment has been funneled through Criteria, which will part of Caixabank in June, when the new conglomerate will be officially announced. The value of Eng. Slim's investment has been estimated at 170 million Euro (about 246 million dollars), about 1% of Caixabank; Eng. Slim will become a board member at the new concern.
According to Spanish newspaper El País, Eng. Slim has a longterm relationship with Isidro Fainé, CEO at S&L La Caixa, which has an agreement with Grupo Carso to be Carso's arm for financial ventures into Spain and the U.S., according to this source.
The honcho at Telmex and América Móvil has also invested in Spanish media conglomerate Prisa, which publishes El País.