Reports of billionaire buying company sends stock up
Carlos Slim is not buying the New York Times Company. At least not yet.
But rumors that the Mexican telecom billionaire investor and major Times shareholder was considering a bid sent the company’s stock on a bit of a ride on Monday.
The stock still closed up about 8 percent, or $11.75 per share.
Which means today’s little rumor earned him – admittedly rough math here — $8,375,900.