Mon, Nov 19, 2012 - Page 15 News List

Slim buys stake in soccer team to add sports content

Bloomberg

Carlos Slim’s investment in the Spanish soccer team Real Oviedo adds entertainment assets to his growing portfolio as the world’s richest person seeks to acquire video content services.

The acquisition of a controlling stake in the soccer team for 2 million euros (US$2.5 million) represents Slim’s second sports transaction this year.

Using his mobile phone company America Movil SAB, Slim bought 30 percent stakes in two Mexican soccer teams on Aug. 31. The Real Oviedo transaction was earlier reported by Spanish newspaper El Pais.

VIDEO CONTENT

Slim wants to boost video content services, including sports, to help lure online viewers from Grupo Televisa SAB, which is the world’s largest Spanish-language broadcaster and owns Club America, one of Mexico’s most popular soccer teams.

Televisa has been encroaching on Slim’s territory by offering home phone and Internet services and entering the mobile phone market.

CONFIRMED

Arturo Elias, a spokesman for Slim, confirmed the transaction in an e-mail, but did not respond to questions about the reasons for the investment.

Real Oviedo has been playing in Spain’s Second Division B in recent years and was seeking to raise 1.9 million euros in new funds by midnight on Saturday to avoid insolvency, El Pais reported.

Elias also confirmed the transaction in his Twitter account on Saturday.

‘HONOR’

“Friends of the Real Oviedo thousand thanks for inviting us to participate with you, it’ll be an honor to be part of that big institution,” he wrote.

Slim made the investment using his company Inmobiliaria Carso SA, according to a statement issued by the billionaire and reproduced by El Pais on its Web site.

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