The purchase of 14.7 million shares of Prisa was made through Slim’s investment arm Inmobiliaria Carso SA, according to an exchange filing made in Spain on Friday. The statement did not specify how much Slim paid.
Based on the price of Prisa shares at Thursday’s close, the stake would have been worth 11 million euros. The shares jumped 12 percent on Friday to 0.84 euros, helped by the news of Slim’s investment.
Prisa’s business spans radio and TV assets in Spain and Latin America, as well as Spain’s best-selling newspaper El Pais. The company is trying to shed assets and cut its debt after borrowings topped 4 billion euros in 2010.
Slim is the chairman and chief executive of telecommunications companies Telmex and América Móvil and has extensive holdings in other Mexican companies. As of early October, Slim held 8.1 percent of Class A shares of New York Times.
Mexico, Mexico City & Spain, Madrid