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Exclusive: Slim doubles down on Mexico City airport amid turmoil - sources

Business Insider UK
Updated
Mexican billionaire Carlos Slim smiles as he attends a ceremony to place the first stone of the new U.S. Embassy in Mexico City, Mexico, February 13, 2018. REUTERS/Edgard Garrido
Mexican billionaire Carlos Slim smiles as he attends a ceremony to place the first stone of the new U.S. Embassy in Mexico City, Mexico, February 13, 2018. REUTERS/Edgard Garrido

Thomson Reuters

MEXICO CITY (Reuters) - Funds controlled by the family of Mexican billionaire Carlos Slim are set to acquire a large chunk of an investment trust to fund Mexico City's new airport, three sources with knowledge of the deal said, as doubts hang over the project's future.

The placement came as leftist presidential frontrunner Andres Manuel Lopez Obrador threatens to scrap the airport and block new work on it. Slim's construction business has been one of the biggest winners of work for the airport.

Slim's Grupo Financiero Inbursa, through vehicles including pension fund Afore Inbursa, was allocated around 13 billion pesos of certificates of the trust created to finance part of the construction of the airport, said the people, who spoke on condition of anonymity.

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(Reporting by Christine Murray and Julia Love; Additional reporting by Sheky Espejo; Editing by Leslie Adler)

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