Prince Alwaleed bin Talal of Saudi Arabia has purchased shares of the newly relisted General Motors stock.A 1% stake in GM was acquired by the prince's holding company for about 500 million dollars.Kingdom Holding Company cited GM's global brand and strength in India and China as reasons for the purchase.The prince had been considering the acquisition for some time before last week's initial public offering.
Prince Alwaleed is also a major investor in Citigroup.He said that,under Citigroup CEO Vikram Pandit,things have stabilized and we are beginning to look at growth.Citi has 2 trillion dollars in assets in 120 countries,and Vikram has surprised the market by doing a good,meticulous job.
Saudi Arabia is booming,and Dubai is trying to find its bottom.They aren't there yet,but Dubai has a good infrastructure,Prince Alwaleed observed.
General Motors(GM),Citigroup(C)
No comments:
Post a Comment