Carlos Slim takes $1.2 billion hit over América Móvil

Mexico's Carlos Slim, the world's richest man, suffered a $1.2 billion blow to his leading business, América Móvil, Latin America's top cellphone operator.

The loss was reported for the second quarter, and it caused by a drop in the Mexican peso and other Latin American currencies against the US dollar.

However, the company the company received 5.9 million new subscribers over the period.



 

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