Bloomberg Refutes Reuters, Says Saudis “In Talks” To Invest In Tesla Buyout

By Tyler Durden

What a difference 24 hours makes: just yesterday, Reuters reported citing “two sources familiar with the matter”, that Saudi Arabia’s Sovereign Wealth Fund, the Public Investment Fund (PIF) which recently acquired a stake just shy of 5% in Tesla in the open market, “has shown no interest so far in financing Tesla CEO Elon Musk’s proposed $72 billion deal to take the U.S. electric car maker private, despite acquiring a minority stake in the company this year.” Reuters also added that the PIF “was not currently getting involved in any funding process for Tesla’s take-private deal.” Separately, “a second source close to the situation said PIF was not taking part in any such plan at this stage.”

Less than a day later, in what many have suggested may be damage control to avoid a gap lower in Monday trading, Bloomberg reports precisely the opposite and citing another “person with direct knowledge of the fund’s plans” that Saudi Arabia’s sovereign wealth fund “is in talks that could see it becoming a significant investor in Tesla as part of Elon Musk’s plan to take the electric car maker private.”

According to the Bloomberg source, the PIF is exploring “how it can be involved in …read more

Source:: Zero Hedge

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