Riyadh – Mubasher: Saudi authorities revealed that they plan to buy a majority stake in MBC Group as a step toward seizing assets from those caught up in the anti-corruption purge, Reuters reported on Thursday.
Authorities of the oil-rich nation eyes taking over around 60% stake of the Middle East’s largest private media company, while MBC founder and chairman Waleed Al Ibrahim will remain holding the rest equity, the news agency said.
Meanwhile, a Saudi official denied such plans, noting that the government will not buy any stakes in MBC.
Two years ago, the kingdom's authorities started talks to acquire a stake in MBC, but the parties did not agree on a price, the sources added.
