Mexican Mogul Slim Sees Opportunity in NY Times.

A Mexican billionaire is expanding his empire in the United States in a deal that could make him one of the largest shareholders of The New York Times Co.

The $250 million investment by tycoon Carlos Slim complements his telecommunications holdings in Latin America, and gives Slim, reputed to be the world's second-richest man, the prestige of owning a sizeable stake in one of the world's best-known and most influential newspapers.

"By having a stake in the New York Times, he's basically projecting himself as a powerbroker in this country, regardless of how his investment does," said Armand Peschard-Sverdrup, a senior associate of the Center For Strategic and International Studies, a Washington think tank.

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