Mexican billionaire Carlos Slim is happy with his current investment in New York Times Co, one of his close aides told Reuters on Monday.
There is no change (in the stake holding), said chief spokesman Arturo Elias. For the time being, we are very happy with the company's performance.
Shares of the U.S. media company rose more than 11 percent on Monday at one point, propelled by a rumor that Slim was seeking to buy the New York Times, where he became a minority stakeholder in 2008.
Slim, who owns 6.9 percent of the Times' stock, gave the company $250 million in January 2009. In return, he received warrants in the company for an additional 15.9 million shares.
Times' stock traded at $11.57, up 5.76 percent, less than an hour before the New York exchange closing bell. Earlier in the session it peaked at $12.16.
The New York Times declined comment on the market speculation driving its stock up but said the New York Stock Exchange had contacted the company to query on unusual market activity.
Slim, who owns a telecommunications empire stretching from the United States to Argentina, is one of the world's richest men.
He also owns retail and infrastructure development companies and quite often dabbles in other foreign businesses, like oil drilling or publishing, in what he sees as investment opportunities.
(Reporting by Cyntia Barrera Diaz and Anupreeta Das, editing by Gerald E. McCormick)