Photo: Lucy Nicholson / AP
Sovereign Fund Saudi Arabia Public Investment Fund (PIF) is holding negotiations with the leadership of Tesla to acquire shares of the company and can participate in its withdrawal from the stock exchange. About it reports Bloomberg with reference to sources.
Previously, the Fund bought a five percent stake in the company, paying more than two billion dollars, and is now interested in a new deal. It is noted that thus Riyadh wants to protect themselves from risks in the oil market. The Agency said that the final decision is still pending, and the amount of investment is undefined.
Earlier, the head of Tesla Elon Musk announced on Twitter that it plans to buy back shares of the company for $ 420 apiece and transform the company from public to private. A potential deal to buy the shares is estimated at 82 billion dollars.
According to the Mask, stock trading hinder the development of the company. In particular, quotations of the shares subject to too great fluctuations. In addition, Tesla is forced to report to regulators and to not always accept strategically the right decisions.
After these posts and a group of shareholders, Tesla filed a lawsuit against the Mask in a Federal court in San Francisco. In particular, the shareholders are called false phrase that funding of delisting provided. Also, the plaintiffs argue that the positions of the businessman brought them losses.
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