New York Times Stock Jumps as Slim Boosts Stake

Thursday, 06 Oct 2011 05:28 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
New York Times Co. climbed the most in almost two years in New York trading after Mexican billionaire Carlos Slim boosted his stake in the company.

The newspaper publisher rose 76 cents, or 13 percent, to $6.75 at 4:15 p.m. in New York Stock Exchange composite trading, the biggest daily gain since Oct. 22, 2009. The stock has dropped 31 percent this year.

Inmobiliaria Carso SA, the closely held investment vehicle for Slim’s family, increased its holdings by 850,000 shares to 11.9 million shares, according to filings yesterday with the U.S. Securities and Exchange Commission. The purchases boosted the stake in Times Co.’s Class A shares to 8.1 percent.

“The New York Times is a great media company, with a great name, excellent content and very good management,” Arturo Elias, Slim’s spokesman, said Thursday in an e-mail.

Slim has said that he owns Times Co. shares as a financial investment and isn’t interested in controlling the company, including in an interview last month with the Daily Beast.

© Copyright 2014 Bloomberg News. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 

You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved