Slim's real estate arm to buy AT&T's America Movil stock

MEXICO CITY, June 27 Fri Jun 27, 2014 3:36pm EDT

MEXICO CITY, June 27 (Reuters) - Carlos Slim's America Movil said on Friday it had authorized the Mexican tycoon's real estate firm Inmobiliaria Carso to buy more than 5.7 billion shares, formerly held by AT&T, equal to 8.27 percent of America Movil's stock.

America Movil shares extended gains to 6 percent, a more than two-month high, after the announcement.

(Reporting by Michael O'Boyle)