Bloomberg News

Slim Would Sell CompUSA `If Anyone Will Buy It'

March 12, 2007

Mexican billionaire Carlos Slim said he would sell CompUSA Inc. ``if anyone will buy it.''

The Dallas-based retailer, which Slim bought in 2000, said last month that it plans to shut 126 shops by the end of May, more than half its stores, as part of a restructuring.

``We got started on the wrong foot,'' Slim said today, referring to the losses CompUSA has reported since he purchased the company. ``I would sell it if anyone will buy it,'' he said.

Slim, in a press conference in Mexico City, said CompUSA isn't part of his ``core businesses,'' which include telecommunications, construction and banking. CompUSA said the restructuring would include receiving $440 million from Mexico City-based parent U.S. Commercial Corp, a holding company controlled by Slim. U.S. Commercial Corp. plans a share sale in Mexico to raise the money to bolster CompUSA.

Slim said he erred by not adding two or three executives in management positions at CompUSA when he purchased the chain. ``We made a mistake with management,'' he said.

CompUSA said Feb. 27 it would focus on top-performing locations after closing most of its locations. In September, Slim hired Credit Suisse to explore a possible sale of CompUSA.

To contact the reporter on this story: Adriana Arai in Mexico City at at aarai1@bloomberg.net

To contact the editor responsible for this story: Michael Nol at mnol@bloomberg.net.


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