Reuters: Mexico's Slim empire 'loses luster'

In a new story today, Reuters reports that technology, regulation and growing competitors are chipping away at Telmex, the cornerstone of big New York Times Co. investor Carlos Slim's telecommunications holdings, and "once-frantic sales growth" at his America Movil wireless operator is tapering off.

"He has a collection of crowns and a collection of jewels," telecommunications consultant Ernesto Piedras told Reuters. "But any company has its business cycle. His most dynamic phase has passed."

Slim (above) plowed $250 million into the NYT Co. after the company agreed to pay an interest rate of more than 14%, The Wall Street Journal reported in July.

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