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.
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Comments (23)
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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It's the first website I hit in the morning. After the Tehran Times, I check out Bloomberg.
LMAO.
I am not cocky, I am confident, and when you tell me I am the best it is a compliment.
-Styles P
This has to be satire
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
Changing your tune huh? haha
If I had asked people what they wanted, they would have said faster horses - Henry Ford
Why did it take me 10 seconds to get that?
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.
fake
I'm laughing hysterically, and just put this on my facebook. Now THAT'S funny.
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.
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
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. "
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
Reality hits you hard, bro...
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...
hahahaha!
People like Coldplay and voted for the Nazis, you can't trust people Jeremy
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
Greed is Good.
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