Slim acquires Global Crossing stake

23 Mar 2004

Mexican entrepreneur and principal Telmex shareholder Carlos Slim has acquired 9.1% of Global Crossing’s common stock and 5% of its total equity; it is unclear whether Slim bought the shares in one transaction or whether it was accumulative. The stake is being held via Orient Star Holdings, a limited liability vehicle used by Slim to make investments in other telecoms companies including the Dominican Republic’s Tricom.