Murdoch loses Saudi ally at News Corp - FT.com:
"Rupert Murdoch has lost an important News Corp ally after Prince Alwaleed bin Talal sold most of his stake, a move that could embolden dissident shareholders to challenge Mr Murdoch’s grip on the media company.
Kingdom Holding Company, Prince Alwaleed’s investment vehicle, sold about SR705m ($188m) of B shares in the media company, cutting its stake from 6.6 per cent to 1 per cent. It said it had decided to reduce its stake during a portfolio review, but gave no further explanation.
Kingdom has consistently supported Mr Murdoch, backing him during the phone-hacking scandal and in shareholder votes that have challenged News Corp’s dual class structure, which has for decades secured the Murdoch family’s control."
'via Blog this'
No comments:
Post a Comment