King Abdullah of Saudi Arabia wants to buy Facebook for $150 billion
From the Tehran Times:
In what is being termed as pure Wall Street Gordon Gecko tactics, King Abdullah of Saudi Arabia has decided to make an offer of $150 billion to buy out Facebook.
Inside sources within the kingdom suggest that the King is very upset with Mark Zukerberg for allowing the revolt to get out of control, Ahlul Bayt News Agency reported.
In a personal meeting between Mark Zuckerberg and King Abdullah on Jan 25, 2011, Zuckerberg had promised that he would not allow any revolt pages to be formed on Facebook even while he allowed Egypt and Libya revolt pages to be formed.
Left with no option, Abdullah advised by Goldman Sachs has decided to buy out Facebook and “clean out the weeds”. The offer on the table is $150 billion. Facebook balance sheet was shown to King Abdullah and his kingdom advisors had mentioned that it is not even worth $1 billion given that it generates no profit. But the King threw the report into the dustbin and fired his advisors and decided to hand over the investment banking mandate to Goldman Sachs who put the value at $150 billion. The deal will be all cash.
Most analysts believe that Zuckerberg will not take the offer and will wait for King Abdullah to up the offer to at least $500 billion. In the meanwhile king Abdullah has now logged on the Facebook and was busy profiling some of the models in the Goldman Sachs presentation.
Plans to provide cheap land for housing
In another development, minister of Municipal and Rural Affairs Prince Mansour bin Miteb said the government is striving to make affordable housing plots available for citizens.
“The Ministry of Municipal and Rural Affairs has allocated 130 plots for the General Housing Authority,” said Prince Mansour, adding that the task of making land cheaper needs the efforts of many government departments.
The prince said the housing authority, which has many plots of land left over from older allocations, will strive to provide houses to as many citizens as possible in all provinces. He added that a few housing projects were implemented in an unscientific manner and had to be redesigned.
The Tehran Times: The only source I trust less than The Huffington Post
It's the first website I hit in the morning. After the Tehran Times, I check out Bloomberg.
LMAO.
This has to be satire
Fake but delicious.
fake
I'm laughing hysterically, and just put this on my facebook. Now THAT'S funny.
http://www.tehrantimes.com/index_View.asp?code=236523The article exists, but for this deal I would place my money on the snowball in hell as having a better chance. This is so desparate, it's sad. Thank God I don't live there.
Well the Saudi Arabians do have mad money... but would they really give out 500b... That is a little extreme I think
That last part made me chuckle. Do you ever see anything that's not extreme coming out of that region?
hahaha
Dude I doubt it's true. It's probably a conspiracy by Iran to discredit the King of Saudi Arabia and enrage protestors in that country. They've been trying to stoke the fires ina bunch of countries...seems like a double edged sword to me but w/e
The original article and comments (from Saudis who don't get it's a joke) are even funnier http://dawnwires.com/politics/saudi-king-to-buy-facebook-to-end-the-rev…
hahahaha!
The funniest thing about this is that if they came out with this issue before the goldman deal but changed the figure to $50 billion, I would have laughed just as hard at how utterly stupid that would be.
LOL...very funny...
although ultimately untrue since King Abdullah in all likelihood would not meet with a Jew, much less buy a business from a Jew.
Good post, lol.
Regards
I felt the need to post that they were all idiots :-p
dont believe it but if it were me id sell for $150 billion. who cares if you could get more at that point
fake
Dolor rerum fugit aut ut. Qui similique inventore vitae cupiditate modi quas nemo.
Minima rerum est ex enim blanditiis quod dolores. Ut sit voluptatibus id. Et dolorem debitis repellat non natus quisquam.
Exercitationem maiores tenetur veniam voluptatem sed illo. Iste doloremque dicta vel accusamus facere. Aut earum deleniti explicabo quia. Et perspiciatis ab ex aut itaque.
Similique quia voluptas inventore maiores. Eligendi labore tenetur labore ea omnis. Maiores est labore similique corporis non dolorem tenetur.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Labore soluta eos expedita qui reiciendis ut eligendi. Eius voluptatem voluptas itaque voluptate. Laboriosam quo quia repellendus.
Fugiat atque molestiae et sapiente sint. Similique id enim voluptatem quibusdam ea nihil. Consequatur ut similique inventore earum laborum aperiam quia accusamus. Consequatur vel consequuntur molestiae consequatur earum quia pariatur.
Molestiae voluptas amet recusandae et pariatur. Sapiente voluptatem doloremque ab a cumque accusamus ut placeat.
Sed dolor fugit vitae in magni consequatur quis. Quia ipsum voluptates sit voluptatem explicabo. Tempore delectus sint quidem ipsam sed magnam. Cupiditate earum totam commodi aspernatur dolor voluptates.