Based on data from Mexico's stock exchange, the company Slim uses funds worth 374 million pesos, equivalent to U.S. $ 29 million to buy more shares as much as 26 million shares. However, the move has not been able to halt the fall of stock prices after the company posted a profit decline that exceeded estimates in the fourth quarter of 2012.
America Movil is repurchaser active. Last year, the company managed to reduce the number of outstanding shares as much as 1.15 billion or 1.5%. Like most transactions, the stock buyback through Grupo Financiero yesterday Inbursa SAB, the financial services company that is also owned by Slim.
According to Director Marco Antonio Slim Domit Inbursa, which is the oldest son Slim, Inbursa bought the stock on behalf of clients, not for the company.
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