EXCLUSIVE - Mexico's Slim not eyeing more Europe buys for now

MEXICO-SLIM-EUROPE:EXCLUSIVE - Mexico's Slim not eyeing more Europe buys for now

mexico City  July 4, 2012, 9:28 IST

mexico City  07 04, 2012, 09:30 IST

 

Mexican tycoon Carlos Slim said on Tuesday he has no immediate plans for further telecommunications purchases in Europe after buying into Dutch firm KPN and Telekom Austria .

Asked if he was looking to expand further in Europe after the two recent deals, Slim said: "No, no. We're not looking for nothing now. We are going to consolidate what we've got."

Slim's America Movil , which is present in roughly a dozen Latin American countries, is establishing a beachhead in Europe where a combination of tough competition, regulatory pressure and recession in many markets has beaten down some company valuations to near decade lows.

 

Slim recently increased his stake in KPN to 27.7 percent and bought a 23 percent holding in Austria Telekom, his biggest foray yet into the European market.

With an empire stretching from banking to hotels to mining, the world's richest man said he remained open to opportunities.

"We're always open in the world for everything... Well not everything," he said at an Independence Day party at the U.S. ambassador's residence in Mexico City.