Big money
In a week dominated by events as profoundly sobering as the Haitian earthquake and its aftermath, the news that the mobile industry will turn over more than $1 trillion for the first time in 2013 is given serious context. Aid agencies that are calling for donations in the stricken Caribbean nation report that £50 can buy a food parcel that will feed a displaced family for two weeks.
Slim expands empire
Carlos Slim, head of Latin American powerhouse America Movil and third richest man in the world, may be jumping a couple of spaces in the rich list on the back of a move to consolidate his empire.
Telmex buys into Portugal
Mexican carrier Telmex became a major shareholder in Portugal Telecom Friday, acquiring a 3.4 per cent stake in the company. The move throws a spanner in the works of Portuguese conglomerate Sonae’s Eur10.7bn (£7.4bn) hostile bid for Portugal Telecom.
The stake was acquired via common stock and it is under stood the Telmex involvement was unsolicited. [...]
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