Reports are circulating that a Saudi prince met with one of Twitter’s founders recently in a bid to acquire part of that founder’s shareholding in the company worth between $200 and $300 million.
Sky News is reporting that Saudi Arabia’s Prince Alwaleed bin Talal’s Kingdom Holding firm is eyeing a significant stake in Twitter.
According to the reports, the prince spoke with a Twitter co-founder about possibly acquiring some of his shares in the company. The shares would be worth approximately $300 million or about 3 percent of the overall company’s value.
No word on which co-founder the prince supposedly met with, but it is likely that it was either Ev Williams or Biz Stone, the two co-founders who have recently left Twitter. Jack Dorsey, Twitter’s third co-founder, is currently Chairman of the Board.
The reports don’t specify whether the deal has already happened or not:
“It’s unclear whether Kingdom Holding has already acquired Twitter shares or whether the vehicle is simply in discussions with Biz Stone and Evan Williams, the founders.”
Twitter had just closed its latest round of funding in early August of this year, bringing in about $800 million. The additional $300 million from the deal with Kingdom Holding would add even more cash to the company as it continues to focus on creating a sustainable and profitable business plan.
Kingdom Holding has previous investments in media companies, including a 7 percent stake in Rupert Murdoch’s News Corp., as well as Apple and Time Warner.
Neither Twitter nor Kingdom Holding is giving any details about the reported talks, but we’ll keep our eye on this story as it develops.
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