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Saudi's Public Investment Fund hasn't shown interest in financing Tesla

Source says that the Saudi fund would not make an investment of this kind without seeking guidance first from SoftBank

Reuters  |  Dubai/Riyadh/London 

Saudi Arabia’s Public Investment Fund (PIF) has shown no interest so far in financing Tesla CEO Elon Musk’s proposed $72-billion deal to take the US electric car maker private, despite acquiring a minority stake in the company this year, two sources familiar with the matter said. The 47-year-old stunned markets when he said on Twitter he was considering a take-private deal for Tesla, an auto manufacturing pioneer that developed the world’s first luxury all-electric sedan car. Musk also said he had secured funding for the proposal, without providing details. ...

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First Published: Mon, August 13 2018. 23:13 IST