The announcements at a recent cabinet meeting seek to elevate the economy, society, and quality of life for all in the Emirates
uae1 hour ago
South Korea's Mirae Asset Financial Group is planning to commit about 300 billion Korean won ($208 million) to help finance Elon Musk's $44-billion buyout of Twitter Inc, a person familiar with the matter told Reuters on Monday.
The deal with Mirae is expected to be finalised in the coming days before the deadline for the closing of the Twitter deal on October 28, the source added.
Earlier this year, Mirae Asset invested in Musk's rocket and satellite company SpaceX, the person said.
Musk's lawyer and Mirae Asset were not immediately available for comments.
The Korea Economic Daily earlier reported Mirae Asset's investment plan for Twitter.
"Mirae Asset is creating a 300 billion won fund to support Musk's takeover of Twitter, according the to investment banking industry. The structure [of the fund] is to jointly acquire a stake in Twitter with Musk," the newspaper reported.
Analysts say Musk needs to attract more equity investors to finance the Twitter purchase and avoid further sales of his stock in electric carmaker Tesla.
Earlier this month, a Delaware judge gave Musk until October 28 to close his takeover of the social media platform.
Tesla investors have feared the billionaire might sell more Tesla stocks to finance the deal, weighing on its shares.
ALSO READ:
The announcements at a recent cabinet meeting seek to elevate the economy, society, and quality of life for all in the Emirates
uae1 hour ago
Negotiators have struggled to find common ground
aviation1 hour ago
Zaw Myint Maung is battling cancer in intensive care unit in Mandalay
asia1 hour ago
The 'Clash of the Legends' featured Luís Figo, Ronaldinho, Roberto Carlos and a host of other stars showcasing their skills on court
cricket1 hour ago
In line with its ESG strategy, Taqa prices a $850 million 12-year green bond offering
energy1 hour ago
Growth was driven by notable increases in share prices for several companies
markets1 hour ago
China's foreign ministry responds it is not aware of the attack
americas1 hour ago
Despite the intense heat in the afternoon, 20,000 fans turned up to witness the first India-Pakistan clash in women's cricket in the UAE
cricket1 hour ago