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News Link • Entrepreneurship

Slim seeks to expand empire into ailing Europe

•, By Dave Graham and Tomas Sarmiento

Slim's principal cash cow, telecoms group America Movil, said on Monday it aimed to buy up to 28 percent of Dutch company KPN, to give the Mexican a base for future expansion in Europe.


The 72-year-old billionaire has focused his activities in the Americas over the past decade, building a fortune of more than $60 billion with the aid of rapid economic growth in countries like Brazil.


Having carved out an empire extending from the United States to Chile, Slim's plunge into the Netherlands likely signals a bet to plan ahead for when Europe emerges from the economic turmoil that has dogged it for nearly four years.


Europe has lurched from the global financial crash in late 2008 to a grinding sovereign debt crisis that has depressed share prices, opening doors to cash-rich investors like Slim.

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