Another billionaire blocks Musk's move to buy Twitter, Musk responds with two questions

CALIFORNIA: Another billionaire blocks the move of billionaire Elon Musk to buy popular microblogging platform Twitter. Saudi Prince, Alwaleed bin Talal, one of Twitter's biggest investors, has come out against Musk.

Bin Talal's response was that the offer put forward by Elon Musk was not in favour of Twitter's values. Bin Talal tweeted that being one of the largest and long-term shareholders of Twitter, he rejects this offer. The Kingdom Holding Company (KHC), led by Bin Talal, has investments in Twitter. KHC is one of the largest investment holding companies in the world. Bin Talal is the chairman of the company.

I don't believe that the proposed offer by @elonmusk ($54.20) comes close to the intrinsic value of @Twitter given its growth prospects.

Being one of the largest & long-term shareholders of Twitter, @Kingdom_KHC & I reject this offer.https://t.co/Jty05oJUTk pic.twitter.com/XpNHUAL6UX

— الوليد بن طلال (@Alwaleed_Talal) April 14, 2022

KHC has investments not only in Twitter, but also in big companies such as the Four Seasons hotel chain, Uber, Lyftt and Citigroup. Following the prince's tweet, Musk came up with two questions. How much of Twitter does the Kingdom own, directly & indirectly?" he asked. "What are the Kingdom’s views on journalistic freedom of speech?"

The Saudi prince's Kingdom Holding Company has a 5.2% stake in Twitter. Meanwhile, Musk has a 9.2 percent stake in Twitter. The offer, valued at $ 43 billion, was made in a letter to Twitter chairman Elon Musk. Musk has announced that it will spend $ 43 billion to buy Twitter. The stock is trading at $ 54.20 (4135 Indian Rupees). On April 4, Musk's stake in Twitter rose 9.2 percent. Musk has acquired more than four times the stake of Twitter founder Jack Dorsey.

Elon Musk made this offer soon after he turned down a seat on the board of directors. In a letter to the Twitter chairman, Musk said he would reconsider his position as a shareholder if his offer was not considered.