Saudi prince invests in three new fields
Saudi Arabia, People, 12/1/1997

Prince Al Waleed Bin Talal Bin Abdul Aziz declared that he bought shares in the News Corp. and in a telecommunications company. The Prince invested 1,500 million Saudi Riyals in buying 5% of the shares of the News Corp. which is the biggest media group in the world. Its activities cover cable broadcasting, producing and distributing films, operating cinema studios, printing and distributing many newspapers, magazines and books. The activities of the group also include managing and operating a number of hotels and resorts in addition to renting and servicing planes.

The Prince also invested $146 million in buying 5% of the shares of the Netscape Communication Company that developed the computer program "Netscape Navigator" and tools for Internet users.

The third transaction is worth $300 million with which he bought shares in Motorola, which works in manufacturing and developing telecommunications appliances.

The Prince has recently made other investments in high tech companies such as Apple computer. It has been noted that Prince Al Waleed has been very successful at identifying undervalued stocks and making investments in those companies while their stock price is depressed.

Previous Stories:
  Saudi billionaire buys half of Meridian   (10/17/1997)
  Saudi prince buys a large piece of Korean conglomerate   (10/16/1997)
  Al Waleed aids Arabs in Palestine   (8/1/1997)

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