Mexican billionaire Slim buys 3% stake in Spain's Quabit
FILE PHOTO: Mexican billionaire Carlos Slim addresses the audience during an event in Mexico City, Mexico November 27, 2019. REUTERS/Luis Cortes
MADRID - Shares of Spanish housing developer Quabit Inmobiliaria jumped on Tuesday after Mexican billionaire Carlos Slim bought a minority stake as he increases his bet on Spanish real estate. Slim’s investment arm Inversora Carso bought a 3% stake in Quabit on Jan. 2, Spanish market regulator CNMV said.Quabit is developing housing projects all over Spain. The company’ market value was 162 million euros as of Jan. 6.
The billionaire’ s acquisition is a new move in the sector after he took controlling stakes in larger Spanish firms FCC (
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