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SBD Global/November 19, 2012/Finance

Carlos Slim's Group Becomes Majority Shareholder Of Spanish Club

Mexican billionaire Carlos Slim has invested €2M ($2.5M) in Spanish third-tier team Real Oviedo, according to L.G. Manjoya of AS. The acquisition was made through Slim's company Grupo Carso. The "significant bid" from Slim was superior to the €1M ($1.3M) offer made by Spanish entrepreneur Quique Pina. Slim is now the majority shareholder of the club (AS, 11/18). EUROPA PRESS reported the main reason for the acquisition of the club was "the history it has in Spanish football and the extraordinary fans that support it." Slim hopes to "create synergies and exchanges" between Spanish and Mexican football. In a release, the Grupo Carso also revealed that Antonio Fidalgo would continue as president of the team (EUROPA PRESS, 11/17). The AP noted the Spanish club was facing bankruptcy "before a huge fundraising effort by fans." The team "narrowly staved off extinction" after supporters over the past two weeks bought more than $1.9M of new shares in the club (AP, 11/17).
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