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article imageSaudi Prince Alwaleed plans new digital acquisition

article:341352:11::0
By Katerina Nikolas     Jan 15, 2013 in Business
Prince Alaweed of Saudi Arabia, founder of the Kingdom Holding Company and nephew of King Abdullah, is looking to expand his holdings, specifically in the digital sector.
The Kingdom Holding Company owned by Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud is looking to acquire a stake in the digital sector. In an exclusive interview with Gulf Business, Prince Alwaleed, whose company invested $300 million in Twitter in 2011, said his company was planning to make an investment “Specifically in digital."
Regarding the potential profits from Twitter the prince told GB: “I don’t have any inside information but I can only quote what the CEO and the CFO of Twitter are saying – they say Twitter is profitable and on track to reaching its goal.”
Prince Alwaleed is the largest stakeholder in News Corp. after the Murdock family. This leads the Dickinson Press to speculate that the prince may use his influence to change the perception of how news is reported by News Corp.
article:341352:11::0
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