Prince Alwaleed sells stake in 21st Century Fox: report

09/11/2017 Argaam

 

Prince Alwaleed bin Talal, chairman of Saudi-listed Kingdom Holding Co. (KHC), has sold his remaining stake in 21st Century Fox, the entertainment company controlled by Rupert Murdoch, Bloomberg reported on Wednesday.

 

No further details were provided about the deal value or the buyer.

 

The billionaire Saudi businessman, who was arrested last weekend as part of Saudi Arabia’s anti-corruption purge, has been a shareholder of Murdoch companies for almost 20 years.

 

Three years ago, Alwaleed, who was one of the top holders of Fox’s Class B shares, slashed his stake in the publishing company ahead of exiting the stock.

 

Kingdom Holding shares have fallen more than 20 percent this week on Tadawul, ever since news broke on Sunday that Prince Alwaleed, along with dozens of other officials and businessmen, was arrested in the anti-corruption crackdown. 

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