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Carlos Slim Could Double His Stake In New York Times

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CARLOS SLIM NEW YORK TIMES
In this file photo, Carlos Slim speaks during a panel discussion at the Clinton Global Initiative Annual Meeting, Thursday, Sept. 27, 2007, in New York. The New York Times Co. says it has approved a $250 million investment bythe Mexican telecommunications billionaire. (AP Photo/Jason DeCrow) | ASSOCIATED PRESS

The Mexican billionaire who bought a large stake in the New York Times could more than double his ownership by 2015, Reuters reported Friday.

Carlos Slim, chairman of America Movil, purchased shares of the media company in 2008 and raised it to a $250 million investment in 2009 in the midst of the financial crisis. Slim currently owns around 8 percent of common shares, but that could increase to 17 percent if he decides to exercise his stock warrants in the company, Reuters calculated.

The warrants are set to expire in January 2015.

"The option is a lower price, I'm sure we should exercise the option, but we look at it like a financial investment that has been very good," Slim said during an interview Thursday.

Slim remains the second largest stock owner of the Times, with reports claiming he has already earned about $122 million from the original loan. The billionaire's deal with the Times gave the media company time to sell assets and build its digital platform to comeback from years of plunging ad revenue.

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