Mexican Mogul Carlos Slim Eyes Investments in Israel

The tycoon and his son say they seek to invest in Israeli technology companies.

Mexican billionaire Carlos Slim hopes to visit Israel in 2014 to explore investments in the tech sector, he told The Marker after his meeting Wednesday with President Shimon Peres and an Israeli economic delegation visiting Mexico.

The president of Israel’s Manufacturers Association, Zvi Oren, said Slim told him he was waiting for an invitation from Peres to take part in a technology event in Israel. Slim’s son, Carlos Slim Jr., told Peres’ staff he would send a delegation of top executives to consider cooperation.

Slim Jr. said he wanted to promote all kinds of cooperation including investment in Israeli firms like América Móvil’s investment in Israeli app Mobli. América Móvil is a Slim venture. As part of the investment, the startup will distribute the app to América Móvil’s cellphone customers.

“We want to invest in Israeli companies and cooperate with companies with the right kind of technology,” Carlos Slim Jr. told TheMarker. He said Mexico was a large and growing economy that presents good opportunities for Israeli firms. But he had not targeted an investment figure for Israel.

The elder Slim said he was open to technology-related business proposals, especially in education, health, communications and trade. But the elder Slim did not plan to join his son’s delegation. “I prefer to come alone,” he told TheMarker.

Israeli companies and executives that have talked recently with Slim-owned firms include data-miner G-Stat and businessman Hezi Bezalel.

During a speech to Israeli and Mexican businessmen at a museum he founded in Mexico City, Slim outlined his vision for society. He advocated an 11-hour workday and a three-day workweek, a higher retirement age and more socially conscious businesses.

Bloomgberg