Home Daily Blitz Norway Wealth Fund Allowed To Stay On As Investor If Tesla Goes Private
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Norway Wealth Fund Allowed To Stay On As Investor If Tesla Goes Private

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The following is an excerpt from Gwladys Fouche | August 21, 2018 | reuters.com |

OSLO (Reuters) - Rules governing Norway’s $1 trillion wealth fund would allow it to stay on as an investor in Tesla (TSLA.O) if the electric carmaker goes private, its deputy CEO said on Tuesday.

Tesla CEO Elon Musk stunned financial markets this month when he revealed on Twitter he was considering a $420 per share take-private deal for the money-losing carmaker.

Norway is Tesla’s third-biggest market and the country’s wealth fund, the world’s biggest sovereign wealth fund, had a 0.48 percent stake in Tesla worth about $253 million as of the start of 2018, according to the latest data from the fund.

Tesla shares have been hit by investor concerns about Musk’s plan, and doubts about whether the company has secured the funding to go private, and the SEC has opened an inquiry related to Musk’s tweets, according to a person with direct knowledge of the matter.

For more visit: reuters.com

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