Mexican tycoon Slim not doubling NY Times stake -aide

* Slim aide says no plans for Times, Newsweek, Fresnillo

* Washington Post looking to sell Newsweek

MEXICO CITY, May 7 (BestGrowthStock) – Mexican billionaire Carlos
Slim is not doubling his stake in New York Times Co (NYT.N: ) or
looking to acquire Newsweek magazine or silver miner Fresnillo,
one of his close aides told Reuters on Friday.

A New York Post column reported on Friday that Slim was
planning to boost his investment in the newspaper publisher and
also said he met with executives from Newsweek, owned by the
Washington Post Co (WPO.N: ).

On Wednesday, British newspaper The Daily Mail reported
that Slim, who owns a telecommunications empire stretching from
the United States to Argentina, might make a bid to acquire
Fresnillo (FRES.L: ), the world’s largest primary silver
producer.

Arturo Elias, Slim’s chief spokesman, told Reuters the
tycoon is not doubling his Times (NYT.N: ) investment. Nor is he
looking into Newsweek or buying Fresnillo.

“None of them is true,” he told Reuters by email, asked
about the speculation.

Slim, who owns 6.9 percent of the Times’ stock, loaned the
company $250 million in January 2009.

In return, he received warrants that could give him an
eventual 17 percent interest in the Times and make him one of
the largest shareholders in the U.S. publisher.

Earlier this week, the Washington Post Co said it plans to
sell Newsweek, which has been losing money for several years
and is on track to lose $20 million this year.

Cigar-smoking Slim, who is the world’s richest man
according to Forbes magazine, has said in the past he has no
interest in becoming a U.S. media baron.

Investing Basics

(Reporting by Noel Randewich; Editing by Derek Caney)

Mexican tycoon Slim not doubling NY Times stake -aide