Alwaleed to Buy Stake in Square

FBN’s Maria Bartiromo reports on her inaugural show Opening Bell with Maria Bartiromo that Kingdom Holding’s Chairman “Prince Alwaleed will invest in Jack Dorsey’s mobile payments company Square” and that “Alwaleed team is looking to acquire senior preferred stock in Square valuing the company at $5 billion dollars.” Bartiromo went on to say, that Kingdom Holding could go public “later on this year.”

On whether Kingdom Holding’s is interested in investing in Square:

“I have learned that Kingdom Holding’s head, his royal highness Prince Alwaleed will invest in Jack Dorsey’s mobile payments company, Square. Dorsey founded Square and owns 32% of it and he is of course also the founder of Twitter (TWTR). Alwaleed invested $300 million dollars in Twitter back in 2011 taking a 3% stake… I am told Alwaleed team is looking to acquire senior preferred stock in Square valuing the company at $5 billion dollars. Kingdom Holdings wants to take up to a 3% stake in Square and certainly will be well positioned once that company goes public, which I am told could happen later on this year.”

Fox Business Network

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