>>>could someone remind me, how much did the prince pay per share?
This article appeared on 11/24/97 excerpt........
Saudi Prince/News Corp. -2: Spent US$1.20B Amid Mkt Fall
The prince, with net worth totaling US$12.0 billion, was reportedly spending US$1.20 billion to acquire the shares when the world's major stock markets tumbled on Oct. 28, according to the magazine report.
'I want to concentrate on communications, technology, entertainment and news,' Prince Al Waleed reportedly told Financial Times, adding 'this is the future. News Corp. is the only truly global news and entertainment company. Netscape is strongly involved with the internet. Motorola is very global in telephones and satellites. These companies are going to play a crucial role.'
The newspaper said the prince's 5% stake in News Corp. makes him one of the largest individual shareholders in the media giant and 'raises possibility of his becoming actively involved in management.'
News Corp. was quoted by the paper as saying on Sunday '(it) welcomes all shareholders.' The company, however, declined to comment further, but the majority of the prince's 5% holding is understood to be in non-voting stock, restricting his leverage, according to Financial Times.
The prince's latest purchases helped expand his existing portfolio of high-profile companies, which already includes U.S.-based Citicorp., Euro Disney, the Four Seasons luxury hotel group, Trans World Airlines and Donna Karan International Fashion group, said the paper.
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He was buying this on the dip..........in the 30's................ |
