New York - Mexican telecommunications billionaire Carlos Slim Helu has paid about $127 million for a 6.4% stake in The New York Times Company (NYSE: NYT), The Times reported, citing a regulatory filing. Slim "has a history of buying depressed assets he can later sell at a profit, and several analysts familiar with his investments say they see the purchase of the Times Company in that vein," the paper noted.

Slim, who purchased 9.1 million shares at $13.96 a share, has also acquired stakes in U.S. companies including Saks, MCI, tobacco purveyors Altria and telco Global Crossing in recent years.

In Latin America, Slim controls the massive America Movil mobile network, as well as Telefonos de Mexico.

Related Links:
http://www.nytimes.com/2008/09/11/business/media/11times.html