Saudi Prince Alwaleed bin Talal was ranked the richest Arab businessman this year by Arabian Business magazine with assets valued at $21.3 billion. Photographer: Yasser Al-Zayyat/AFP/Getty Images
Dec. 19 (Bloomberg) -- Prince Alwaleed bin Talal, the Saudi investor with stakes in Apple Inc. and Citigroup Inc., agreed to buy a $300 million stake in Twitter Inc., the microblogging service with about 100 million users. Lara Setrakian and Maryam Nemazee report on Bloomberg Television's "The Pulse." (Source: Bloomberg)
Twitter Inc., the microblogging service with more than 100 million users, received a $300 million investment from Saudi Prince Alwaleed bin Talal as it pushes through a redesign of its site to attract advertisers.
Alwaleed, who leads the 2011 Arab Rich List, and his investment company agreed to buy a strategic stake in Twitter, Kingdom Holding said today. A strategic holding means more than 3 percent, Ahmed Halawani, a Kingdom Holding director, said in an interview. That would give the San Francisco-based company a valuation exceeding $10 billion.
The investment by Alwaleed, the largest individual investor in Citigroup Inc. (C) and owner of a stake in News Corp. (NWSA), may give Twitter more time to pursue growth before selling shares an initial public offering, a path thats likely to be pursued by rival Facebook Inc. Twitter, which lets its users send 140- character messages, is revamping the site to make it faster and simpler to navigate.
They are looking to give themselves some more running space, said Jeff Mann, an analyst at Gartner in Amsterdam. Their strategy has always been first get big. Theyre still holding reasonably close to that. Having a big audience is more important than a short-term revenue stream.
Twitter confirmed the investment in an e-mail, declining to give additional comments.
Uke said
3:34 PM, 12/19/11
Maybe he shoulda invested a few billion in Sprint tu. That outfit seems like a winner compared ta AT&T, and T-Mobile and their ilk...
AT&T drops $39 billion bid to buy T-Mobile USA
Mon Dec 19, 2011 5:17pm EST
(Reuters) - AT&T said it had agreed with Deutsche Telekom to drop its $39 billion bid to buy the German company's U.S. wireless unit amid increasing regulatory obstacles to the planned deal.
AT&T said in a statement on Monday that it will enter a roaming agreement with Deutsche Telekom.
AT&T's plan to buy T-Mobile USA, first announced in March, has met with opposition from the U.S. Department of Justice and the Federal Communications Commission.
In late November AT&T said it would take a $4 billion charge in case the deal collapsed, including a $1 billion book value for the spectrum AT&T would have to give to T-Mobile USA.
The charge is part of a break-up fee agreement, giving Deutsche Telekom a cash payment of $3 billion, roaming services agreement and a package of mobile licenses for T-Mobile USA.
Snippy said
3:39 PM, 12/19/11
Uke wrote:
Maybe he shoulda invested a few billion in Sprint tu. That outfit seems like a winner compared ta AT&T, and T-Mobile and their ilk...
Spoke like someone who has never needed to use their sorry assed service in the middle of nowhere.
Uke said
4:08 PM, 12/19/11
Snippy, Snippy, Snippy you uninformed chicken eating phool! Have I told you lately how my cell fone thing is 'piggy backed' over Sprint's network?
Hadda post this...here. Cuz we got no 'bizness/economics' forum, yet...
Prince Alwaleed Invests $300M in Twitter
Saudi Prince Alwaleed bin Talal was ranked the richest Arab businessman this year by Arabian Business magazine with assets valued at $21.3 billion. Photographer: Yasser Al-Zayyat/AFP/Getty Images
Dec. 19 (Bloomberg) -- Prince Alwaleed bin Talal, the Saudi investor with stakes in Apple Inc. and Citigroup Inc., agreed to buy a $300 million stake in Twitter Inc., the microblogging service with about 100 million users. Lara Setrakian and Maryam Nemazee report on Bloomberg Television's "The Pulse." (Source: Bloomberg)
Twitter Inc., the microblogging service with more than 100 million users, received a $300 million investment from Saudi Prince Alwaleed bin Talal as it pushes through a redesign of its site to attract advertisers.
Alwaleed, who leads the 2011 Arab Rich List, and his investment company agreed to buy a strategic stake in Twitter, Kingdom Holding said today. A strategic holding means more than 3 percent, Ahmed Halawani, a Kingdom Holding director, said in an interview. That would give the San Francisco-based company a valuation exceeding $10 billion.
The investment by Alwaleed, the largest individual investor in Citigroup Inc. (C) and owner of a stake in News Corp. (NWSA), may give Twitter more time to pursue growth before selling shares an initial public offering, a path thats likely to be pursued by rival Facebook Inc. Twitter, which lets its users send 140- character messages, is revamping the site to make it faster and simpler to navigate.
They are looking to give themselves some more running space, said Jeff Mann, an analyst at Gartner in Amsterdam. Their strategy has always been first get big. Theyre still holding reasonably close to that. Having a big audience is more important than a short-term revenue stream.
Twitter confirmed the investment in an e-mail, declining to give additional comments.
Maybe he shoulda invested a few billion in Sprint tu. That outfit seems like a winner compared ta AT&T, and T-Mobile and their ilk...
AT&T drops $39 billion bid to buy T-Mobile USA
Mon Dec 19, 2011 5:17pm EST
(Reuters) - AT&T said it had agreed with Deutsche Telekom to drop its $39 billion bid to buy the German company's U.S. wireless unit amid increasing regulatory obstacles to the planned deal.
AT&T said in a statement on Monday that it will enter a roaming agreement with Deutsche Telekom.
AT&T's plan to buy T-Mobile USA, first announced in March, has met with opposition from the U.S. Department of Justice and the Federal Communications Commission.
In late November AT&T said it would take a $4 billion charge in case the deal collapsed, including a $1 billion book value for the spectrum AT&T would have to give to T-Mobile USA.
The charge is part of a break-up fee agreement, giving Deutsche Telekom a cash payment of $3 billion, roaming services agreement and a package of mobile licenses for T-Mobile USA.
Spoke like someone who has never needed to use their sorry assed service in the middle of nowhere.