Tesla boss Musk: saudis want to finance the exit from the stock exchange

Tesla boss musk: saudis want to finance the exit from the stock exchange

"I continue to have discussions with the saudi fund and also with a number of other investors," musk shared on the company blog. An interest on the part of the saudis to participate in a possible privatization of tesla, in order to create an alternative to the oil business, has existed since the beginning of 2017 and continues to be present.

Last tuesday, musk had caused quite a stir with a tweet that he was considering delisting tesla at a share price of 420 dollars, causing a temporary halt in trading.

His statement that the financing of such a deal had already been secured caused suspicion on the markets. U.S. Media later reported that the SEC was investigating the veracity of musk’s tweet and that some investors had already launched lawsuits over possible market manipulation.

Taking tesla off the stock market would have been a historic financial feat in terms of the share capital that theoretically had to be bought back.

At musk’s target price, the stock was valued at more than 70 billion dollars. However, the tesla boss has now written that he expects around two-thirds of the shareholders to remain invested in the event of a tesla exit. This significantly reduced the necessary means. Market reaction to musk’s blog was muted – shares were slightly up in early U.S. Trading.