January 7, 2020 / 7:51 AM / 21 days ago

Mexican billionaire Slim buys 3% stake in Spain's Quabit

MADRID, Jan 7 (Reuters) - Mexican billionaire Carlos Slim bought a 3% stake in Spanish real estate firm Quabit Inmobiliaria through his investment arm Inversora de Carso.

Slim’s investment arm bought the stake on Jan. 2, Spanish market regulator CNMV said.

The billionaire already holds controlling stakes in Spanish real estate firms FCC and Realia.

Quabit is developing housing projects all over Spain. The company’ market value was 162 million euros ($181 million) as of Jan. 6.

$1 = 0.8948 euros Reporting by Inti Landauro and Tomas Gonzalez; editing by Jason Neely

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