Saudi prince Alwaleed bin Talal rejects Elon Musk's Twitter takeover bid - tweet

Saudi Arabian billionaire Prince Alwaleed bin Talal sits for an interview with Reuters in the office of the suite where he has been detained at the Ritz-Carlton in Riyadh, Saudi Arabia
Saudi Arabian billionaire Prince Alwaleed bin Talal sits for an interview with Reuters in the office of the suite where he has been detained at the Ritz-Carlton in Riyadh, Saudi Arabia January 27, 2018, REUTERS/Katie Paul

CAIRO, April 14 (Reuters) - Saudi Arabian investor Prince Alwaleed bin Talal said on Thursday that as one of the major shareholders in Twitter he rejected a takeover bid by billionaire entrepreneur Elon Musk.

"I don't believe that the proposed offer by Elon Musk ($54.20 per share) comes close to the intrinsic value of Twitter given its growth prospects," the prince said in a Twitter post.

Musk took aim at Twitter Inc with a $43 billion cash takeover offer on Thursday, with the Tesla CEO saying the social media giant needs to be taken private to grow and become a platform for free speech. read more

Reporting by Omar Fahmy and Saeed Azhar Editing by Mark Heinrich

Our Standards: The Thomson Reuters Trust Principles.

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