Mexican Billionaire's Stake In Circuit City Grows

Law360, New York (November 18, 2008, 12:00 AM EST) -- Ricardo Salinas Pliego, the billionaire owner of a chain of electronics stores in Mexico, has purchased 5.3 million shares of Circuit City Stores Inc. and increased his stake in the chain to 28 percent, two days after the U.S. electronics giant filed for Chapter 11.

According to a filing with the U.S. Securities and Exchange Commission, Salinas purchased the shares on Nov. 12. The Associated Press reported that Salinas now owns 47 million shares of Circuit City, making him the largest shareholder in the company....
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