Musk says that the Saudi Fund wealth tends back Tesla ransom

  • Musk says that the Saudi Fund wealth tends back Tesla ransom
    Independent.t. E.
    Yesterday Tesla CEO Elon Musk said he is still negotiating with potential sponsors about a possible buyout of the company, including sovereign Fund of the Kingdom of Saudi Arabia, but has not completed provide funding.
    https://www.independent.ie/business/technology/news/musk-says-saudi-wealth-fund-keen-to-back-tesla-buyout-37213386.html
    https://www.independent.ie/business/technology/article37213190.ece/5b951/AUTOCROP/h342/giveelon.JPG

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Yesterday Tesla CEO Elon Musk said he is still negotiating with potential sponsors about a possible buyout of the company, including sovereign Fund of the Kingdom of Saudi Arabia, but has not completed provide funding.

In his blog, Musk said the Saudi Fund told the electric car maker Private negotiations, built almost two years, and also supported the deal last week.

Post fleshed out the announcement in Silicon valley billionaires shock on 7 August that he intends to take the company private and was “fixed” funding. But Tesla’s shares rose slightly in early trading, suggesting that investors still aren’t convinced.

“I am continuing negotiations with the Saudi Fund, and I also negotiated with a number of other investors that what I planned to do, as I would like Tesla to continue a broad investor base,” Musk wrote.

He said that his Twitter messages about the possibility of the transaction, the managing Director of the Saudi Fund expressed support for the proceedings is subject to financial and other expertise. The public investment Fund of Saudi Arabia (PIF) is known for its technology investments, including $45 billion (€39bn) he spent in the Foundation the vision of the Softbank Corp group.

The Fund did not immediately respond to a request for comment. Tesla declined to comment further for the blog post musk. Some analysts say will be a separate sense for Tesla, but expressed doubt about the ability of the company to raise the necessary funds.

After opening on a positive note, Tesla shares were up just 0.5 PC at $357 in early trading yesterday, nearly 8 below last week’s peak. (Reuters)

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