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Thursday July 24, 2025

Carlos Slim acquires 3% stake in BT, backing CEO’s turnaround strategy

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Mexican billionaire Carlos Slim invests £400 million in BT, supporting new CEO Allison Kirkby’s ambitious plans for the telecom giant

 Mexican billionaire Carlos Slim has made a significant move in the telecom industry by acquiring a 3% stake in BT Group PLC, worth approximately £400 million. This investment follows BT’s recent announcement of its annual results and strategic initiatives aimed at revitalizing the company under the leadership of CEO Allison Kirkby.

BT, a prominent player in the UK telecom market listed on the FTSE 100, welcomed Slim’s investment, emphasizing their openness to investors who recognize the long-term value of their business. The stake was acquired through companies controlled by Slim’s family, marking another strategic financial move by the tycoon known for his telecom investments globally.

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Carlos Slim, once the world’s richest man and still Latin America’s wealthiest individual, amassed his fortune through a pivotal concession deal in the 1990s with Mexico’s state telephone company. His conglomerate, América Móvil, holds significant stakes in telecom companies across Europe and Latin America, illustrating his deep-rooted influence in the sector.

Slim’s investment in BT comes amidst a broader trend of high-profile investors showing confidence in telecom firms, including billionaire Patrick Drahi’s Altice and Deutsche Telekom. The move underscores Slim’s strategic interest in the European telecom market and aligns with his past investments in companies like KPN and Telekom Austria.

Despite previous unsuccessful attempts at major acquisitions in Europe, such as the contested bid for Telecom Italia in 2007, Slim remains a formidable force in telecommunications. His decision to invest in BT signals confidence in CEO Allison Kirkby’s strategy to streamline operations, achieve significant cost reductions, and explore new global opportunities.

Analysis:

  • Political: Slim’s investment in BT may influence regulatory scrutiny in both Mexico and the UK, potentially shaping telecom policies in these regions. His close ties with political figures like Mexico’s President Andrés Manuel López Obrador could also impact regulatory landscapes.
  • Social: This investment reflects broader trends in corporate strategy and investor sentiment towards revitalizing established telecom companies. It highlights how financial manoeuvres by billionaires can influence market perceptions and stock performance.
  • Economic: Economically, Slim’s investment is seen as an endorsement of BT’s financial health and strategic direction under new leadership. It could stabilize BT’s market position and potentially attract further investments, bolstering the company’s growth prospects.
  • Gender: While the event itself does not directly impact gender issues, it underscores the leadership of Allison Kirkby as one of the few female CEOs in the telecom industry, showcasing her strategic prowess in attracting significant investments.
  • Racial: Slim’s involvement highlights Latin American influence in global finance and telecommunications, showcasing diversity in investment landscapes traditionally dominated by Western investors.

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