King Abdullah of Saudi Arabia wants to buy Facebook for $150 billion

captain's picture
Rank: Senior Chimp | banana points 18

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.

http://www.tehrantimes.com/index_View.asp?code=236523

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Comments (23)

Feb 27, 2011

The Tehran Times: The only source I trust less than The Huffington Post

If I had asked people what they wanted, they would have said faster horses - Henry Ford

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Feb 28, 2011
happypantsmcgee:

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.

Feb 27, 2011

LMAO.

I am not cocky, I am confident, and when you tell me I am the best it is a compliment.
-Styles P

Feb 27, 2011

This has to be satire

Feb 27, 2011

Fake but delicious.

I am not cocky, I am confident, and when you tell me I am the best it is a compliment.
-Styles P

Feb 27, 2011
eokpar02:

Fake but delicious.

Changing your tune huh? haha

If I had asked people what they wanted, they would have said faster horses - Henry Ford

Feb 27, 2011
happypantsmcgee:
eokpar02:

Fake but delicious.

Changing your tune huh? haha

Why did it take me 10 seconds to get that?

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9 LBO Modeling Tests, 10+ hours of PE Cases and 2,447+ interview insights across 203 private equity funds. The WSO Private Equity Interview Prep Course has everything you'll ever need to break into the competitive PE industry. Learn more.

Feb 27, 2011

fake

Feb 27, 2011

I'm laughing hysterically, and just put this on my facebook. Now THAT'S funny.

JeffSkilling:

fake

http://www.tehrantimes.com/index_View.asp?code=236523
The 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.

Feb 27, 2011

Well the Saudi Arabians do have mad money... but would they really give out 500b... That is a little extreme I think

It's what you put into it

Feb 28, 2011
rbkchoi:

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?

" A recession is when other people lose their job, a depression is when you lose your job. "

Feb 27, 2011

hahaha

Feb 27, 2011

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

Reality hits you hard, bro...

Feb 27, 2011

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-fa...

Feb 27, 2011

hahahaha!

People like Coldplay and voted for the Nazis, you can't trust people Jeremy

Feb 27, 2011

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.

Feb 28, 2011

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.

Feb 28, 2011

Good post, lol.

Regards

Feb 28, 2011

I felt the need to post that they were all idiots :-p

Mar 3, 2011

dont believe it but if it were me id sell for $150 billion. who cares if you could get more at that point

Mar 5, 2011

fake

Greed is Good.

Mar 5, 2011
Mar 7, 2011