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Rating:BlackRock Sells Slim Stake to $64B Man Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, November 24, 2010

BlackRock Sells Slim Stake to $64B Man

News summary by MFWire's editors

Larry Fink just brought the richest man in the world into the BlackRock [see profile] fold as a shareholder. The Financial Times' Henny Sender reports that Carlos Slim now controls about two percent of BlackRock's comment stock in the wake of Bank of America's and PNC's sales of shares earlier this month. Yet Bloomberg's Crayton Harrison claims that Slim's stake is under two percent.

According to the FT, Norges Bank (which controls Norway's sovereign wealth fund) also bought in during that share sale.

Slim, who controls Mexico City-based cell phone giant America Movil and the bank Grupo Financiero Inbursa SAB, is worth about $64 billion, according to Bloomberg.

Barron's, DailyFinance, Forbes, InvestmentNews and TheStreet all covered the story. 

Edited by: Neil Anderson, Managing Editor

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