HomeTechnologyElon Musk spars with major Saudi investor over Twitter takeover offer

Elon Musk spars with major Saudi investor over Twitter takeover offer

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Tesla and SpaceX CEO Elon Musk on Friday took a jab at Saudi Prince Alwaleed bin Talal, a serious Twitter investor who rejected Musk’s hostile provide to accumulate 100 per cent of the micro-blogging platform for $43 billion.

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Questioning Saudi Arabia’s personal media legal guidelines, Musk tweeted: “Just two questions, if I may. How much of Twitter does the Kingdom own, directly & indirectly? What are the Kingdom’s views on journalistic freedom of speech?”

Musk reacted after the Saudi Prince rejected the Tesla CEO’s money provide of $54.20 per Twitter share.

“I don’t believe that the proposed offer by @elonmusk ($54.20) comes close to the intrinsic value of (Twitter) given its growth prospects. Being one of the largest & long-term shareholders of Twitter, @Kingdom_KHC & I reject this offer,” the prince tweeted.

Alwaleed, who runs the Kingdom Holding Company and is a nephew of Saudi Arabia’s King Salman, mentioned he was one of many oldest and largest shareholders in Twitter, reviews Middle East Eye.

In 2015, he and his firm owned a 5.2 per cent stake within the social media platform.

Musk on Friday began a brand new ballot, with a tagline that “taking Twitter non-public at $54.20 ought to be as much as shareholders, not the boarda.

“Will endeavour to keep as many shareholders in privatised Twitter as allowed by law,” he tweeted.

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