Saudi King to buy Facebook for $150 billion to end the revolt: Goldman Sachs to advise
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 he is very upset with Mark Zukerberg for allowing the revolt to get out of control. In a personal meeting betweenMark 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. But little did King Abdullah know Zuckerberg. Had he seen the movie “Social Network”, he would have been better advised than to trust Zuckerberg.
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. more: Article Source
El-wasat denies allegations:
Arabic news portal El-wasat confirms that it is complete bogus and denies allegations of the Goldman report presented to King Abdullah of “how using Facebook could be used to cement his position forever.” The news site claims that a large amount of that news was untrue, and has no basis.
As of writing, the story has 22,900 shares of Facebook, 2,133 Tweets, 222 emails, and 25,700 shares to other social networks such as Stumble Upon, Digg, MySpace, etc. We just hope that the people who read it are aware of the truth. Especially the journalists. Al Wasat