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Mexican AT&T board member buys $20 mln stake in America Movil
January 2, 2014 / 3:01 PM / in 4 years

Mexican AT&T board member buys $20 mln stake in America Movil

MEXICO CITY, Jan 2 (Reuters) - Mexican businessman and board member of U.S. phone giant AT&T Jaime Chico Pardo has accumulated a $20 million stake in billionaire Carlos Slim’s America Movil phone company, according to a recent regulatory filing.

The 285.4 million peso ($21.79 million) purchase occurred around the same time as AT&T sold 250 million shares in America Movil , according to the filing from the end of December.

Chico Pardo’s purchase, which is equivalent to less than 0.1 percent of America Movil, was made with personal funds and as compensation from his employer, the filing said.

The businessman, who heads an energy and healthcare fund, was previously a board member of several Slim companies.

In its third quarter report, AT&T said it had a 9.1 percent stake in America Movil.

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