Elon Musk: Even more confusion

Tesla boss Elon Musk blogged that the Saudi government fund is supporting the stock market retreat of its company. But his latest statement raises even more questions.

Elon Musk: Even more confusion

Since Tesla boss Elon Musk Amvergangenen Tuesday public with tweeted Überlegungüberraschte to take Tesla from stock market, investors undMarktbeobachter a question about: Where should money for buy-back come from? 420 US $ will Musk per share Pay. Then Elektroautobauer would be worth around 72Milliarden dollars – and entrepreneur added: "Financing secured."

As he says, 47-year-old Dazuschwieg for days. Now he has explained himself in a blog post on Tesla homepage. The Saudi Arabian State fund PIF is refore to play a significant role.

On considering taking Tesla private at $420. Funding secured.

— Elon Musk (@elonmusk) August 7, 2018

The Saudis had raised him several times since beginning of 2017, wanted to go big with Tesla and in this course to take company from stock Exchange – experts call delisting. "Obviously, Saudi government fund has more than enough capital to carry out transaction Notwendigwäre", says Musk. For Saudis, Tesla would be an interesting addition, after all y want to get out of oil business in medium term. The JüngsteGespräch on subject had given it on July 31, 2018 – shortly after PIF bought almost five percent of Tesla shares on market.

During meeting at end of Julihabe, managing director of Fund clearly reaffirmed his support for EinenBörsenrückzug Tesla. "I left meeting on July 31, OhneZweifel, that a deal with Saudi sovereign wealth fund would be closed könnteund it was just about getting process going," BLOGGT Musk. Darumhabe he posted in tweet on August 7th "funding secured". Since n, he has also led PIF manager, whom he does not name, with a wide range of lively talks.

Under pressure from public

The tweet DerMilliardär The fact that he felt it was wrong to share his delisting Wunschlediglich with biggest shareholders. He regarded it as Richtigenund fair step of "publicly announcing my plan". Accordingly, Board of Directors supports its plans. Musk hopes to be more calm ethylalcohol companies, less influence of investors and transparency obligations.

His long blog entry developmentis. It is likely to have arisen above all from increasing public pressure to answer numerous open questions about drought tweet and Demhinterhergeschobenen blog entry. According to US media, even Dieu's stock Exchange supervision sec is now examining veracity. Two investors have also filed a lawsuit against Musk.

Musk itself holds a good 20 Prozentan company. He had already expressed his hope last week that DassGroßinvestoren would retain ir shares even in a delisting – Tesla should continue to have a broad owner base. Therefore, it is vorunklar how large amount needed to withdraw from stock exchange should be above main. According to blog entry, Musk hopes that in best case two thirds of DerAnteile will remain with current investors. Then only one third would have to be bought back. That is why reports of a capital requirement of 70Milliarden dollars are also excessively exaggerated.

It is clear to Musk that SichTesla is not to blame for project. After all, DerAutohersteller has been writing red numbers for years and has now accumulated debt in of EUR nearly ten billion dollars. According to media reports, a meeting of Tesla Board of directors with financial Advisors is planned for this week to MöglicheSzenarien.

The Tesla boss has to admit, however, that Saudis would still have a few questions and that y would still have to check financial figures VonTesla. At present time he could not Konkreterwerden, writes Musk, as he also talks with or investors. Ganzso sure, as Musk suggested in his tweet, financial basis for a stock market retreat is not alsonoch.

Date Of Update: 14 August 2018, 12:00

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