Mexico foreign direct investment down 46 percent in first 9 months
MEXICO CITY Nov 24 (Reuters) - Mexico registered foreign direct investment (FDI) of $15.3 billion during the first nine months of 2014, the country's economy ministry said on Monday, down 46 percent from the $28.2 billion seen over the same period last year.
The ministry said the weaker FDI in the January-September period was due to U.S. telecoms company AT&T selling its stake in Carlos Slim's America Movil to get regulatory approval for its purchase of satellite broadcaster DirecTV.
In June, Slim bought back that stake for about $5.5 billion, transferring the asset back into Mexican hands, and thus declassifying it as FDI, the ministry added.
Mexico posted record FDI of $35.2 billion in 2013, nearly double the level seen in 2012, mainly due to Belgian brewer Anheuser-Busch InBev's acquisition of Mexican beer giant Grupo Modelo, which brought in over $13 billion. (Reporting by Gabriel Stargardter; Editing by Cynthia Osterman)
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