MEXICO CITY – Mexican business magnate Carlos Slim's cellphone company has acquired a 30 percent stake in two first-division Mexican soccer teams.
Slim's America Movil company will hold nearly one-third of Grupo Pachuca, which owns the Pachuca and Leon teams.
The deal is the first foray into professional soccer by Slim, who is considered the world's richest man. Slim has a longstanding fascination with baseball, but doesn't own a baseball team.
A spokesman for Slim's Grupo Carso holding company says that "we share the values and business vision" of the soccer teams' management. Spokesman Arturo Elias Ayub announced the purchase Friday.