Slim is largest New York Times shareholder

Mexican billionaire Carlos Slim became The New York Times's largest individual shareholder on Wednesday after exercising warrants to double his stake in the newspaper to 16.8 million shares.

The warrants were bought by Slim after he loaned $250 million to the publisher in 2009.

The New York Times said it will use the cash proceeds from the operation, some $101 million, to buy back Class A shares.

Full story (in Spanish)