Mexican telecommunications tycoon Carlos Slim Helú has bought a 6.4% stake in the New York Times company, making him the third largest outside shareholder. The $127m (£72.5m) investment "is purely financial", said Slim's son-in-law, Arturo Elías Ayub, who is communications director of Slim's Carso Group.
Slim, who made his fortune from telecommunications businesses and who is regarded as the world's second richest man, has shown increasing interest in media companies in recent times.
He has significant interests in Mexico's two largest broadcasters, and in May he disclosed a 1% stake in Tony O'Reilly's media company Independent News & Media. He has also been reported to be considering a financial injection into Prisa, the Spanish media group that owns El Pais.
For a lengthier appraisal see this Financial Times story.
