Julie Watson, Associated Press

A Latin American billionaire looks to expand his empire in the United States in a deal that could make him the largest shareholder of The New York Times Co.

The $250 million investment by Mexican tycoon Carlos Slim could provide some synergies with his telecommunications holdings in Latin America, analysts say.

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Perhaps more importantly, Slim, reputed to be the world’s second-richest man, would gain the prestige of owning one of the world’s best-known and most influential newspapers.

“By having a stake in the New York Times, he’s basically projecting himself as a powerbroker in this country, regardless of how his investment does,” said Armand Peschard-Sverdrup, a senior associate of the Center For Strategic and International Studies, a Washington think tank.

The Times announced late Monday the financing agreement with Slim’s companies Banco Inbursa and Inmobiliaria Carso for $125 million each. Times President Janet L. Robinson said the cash infusion will be used to refinance existing debt and will provide the company with increased financial flexibility.

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