VOL. XL No. 12 24-March-1997
Prince Al-Walid Buys Stake In TWA
Saudi Arabia's Prince al-Walid ibn Talal has announced that he has boughta 5% stake in Trans World Airlines, Inc. (TWA). The cost of the deal, with2.088mn shares bought, is estimated at $14.5mn. According to an officialstatement, this is the first deal of its kind for the Prince, whose interestshave so far been banking, real estate development, entertainment and themedia, supermarkets and hotels. "The importance of such...