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América Móvil

Family business roundup: Jindal family eye Stemcor assets, America Movil resists KPN deal

July 26, 2013

Jindal family compete for Stemcor's assets, America Movil reluctant to give blessing to KPN deal, Rodale third-gen steps down as president.

Stemcor/ Jindal Group
Two companies from different branches of the family-controlled OP Jindal Group are tussling over the Indian assets of the Oppenheimer family's steel trading company Stemcor.

Family business roundup: Acquisition for LVMH, America Movil invests

July 9, 2013

LVMH has snapped up yet another Italian luxury brand, while America Movil spied potential in a UK-based app developer.

LVMH
LVMH has bought a controlling stake in sixth-generation Italian textile and clothing family business Loro Piana for €2 billion.

Loro Piana was founded at the beginning of the 19th century and specialises in cashmere and other rare wools – it has more than 130 boutiques across Europe, Asia and the US.

Family business roundup: Carlos Slim and Thai beverage firm make major acquisitions, Maloof family sells NBA team

January 24, 2013

There were big family investments and divestments worldwide this week, with Mexican tycoon Carlos Slim adding to his advertising empire, the Shaw family increasing its stake in the eponymous Canadian media business and the Maloofs relinquishing their US basketball team.

America Movil
America Movil, the Mexico City-based telecoms operator controlled by Carlos Slim and his family, is to acquire the media and advertising division of Corporacion Interamericana de Entretenimiento for nearly 1.7 billion Mexican pesos (€99.2 million).

Family business roundup: Samsung, America Movil, PPR and Pernod Ricard post good results, while Paccar sees a fall

October 29, 2012

Family businesses around the world have reported mixed quarterly figures, with Samsung and America Movil seeing rises in sales and profits, while Paccar has witnessed a fall in revenues.

Samsung Electronics, which is the world’s biggest technology company by sales, had a record-breaking third quarter with operating profit reaching an all-time high of 8.12 trillion won (€5.74 billion) – up 91% on the same period last year – while revenues hit 52.18 trillion won, a 26% increase.

Family business roundup: Expansion in Asia or Europe?

May 24, 2012

At a time when the eurozone crisis shows no sign of abating, family businesses such as America Movil, Prada and LVMH are giving mixed signals about their expansion plans.

According to Carlos Slim Domit, co-chairman of Mexican telecommunications group America Movil, now is a "good moment" to invest in Europe because of the continent's ongoing debt crisis.

Family business roundup: Profits down at Ford, up at America Movil, Fiat and VW

April 28, 2012

Ford Motor Company, the US carmaker controlled by the founding Ford family, saw its profits plummet during the first three months of 2012, while three other family businesses have posted strong quarterly results.

Carlos Slim loses $16.5 billion

October 4, 2011

The world’s richest man, Carlos Slim, has reportedly seen his fortune drop by $16.5 billion (€13.5 billion) during the last three months, as tough economic conditions take their toll on the wealthy.

Mexican business website Sentidocomun said the telecoms tycoon was worth about US$62 billion, at the end of September, down from US$78 in June, the Financial Times reported.