Mexico’s well known telecom industry giant, Carlos Slim, has established a new company by the name of Carso Oil & Gas to compete and invest in developing opportunities in Mexico’s energy sector. The company was formed after shareholders of the subsidiaries of Slim’s industrial conglomerate, Grupo Carso, voted in February 2015 to merge Carso Infraestructura, Construccion y Perforacion and Condumex Perforaciones into Carso Oil & Gas.
According to a report released by the new company, its assets amount to approximately U$230 million in market capitalization. In an interview with Reuters, Slim said that he remains upbeat about the energy reform in Mexico, adding that up to 50 billion dollars should be injected into the sector.
Last year, Mexico completed a major overhaul of its energy sector, effectively ending the state monopoly held by state-owned oil company Pemex and opening the sector for private investors.
In addition to America Movil, Telcel and Telmex, Slim’s main assets include Grupo Carso, which currently controls a number of large-sized Mexican companies.