A Saudi Arabian prince has bought a five per cent stake in Apple Computer and stands to make a killing if an attempted $1.25 billion hostile takeover by Oracle boss Larry Ellison succeeds.
While Ellison and Apple chief Gil Amelio fight for the Apple big chair, Prince Alwaleed Bin Talal Bin Abdulaziz Al Saud of Saudi Arabia has purchased shares on the open market over the past four weeks, for an aggregate investment of $115 million.
?I have been following the technology industry for quite some time, and I believe there is serious potential for Apple to provide large returns to its stockholders once again, as it did in the past,? said Prince Alwaleed.
The investment adds the Apple name to a long list of investments made by the Prince, which include the Citicorp global bank, the Four Seasons Regent international hotel chain and the Canary Wharf property development in London.
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