Phone-hacking scandal hits Murdoch business as investors grow restless

[Joanne98]

Many people in the UK will not have heard of Prince al-Waleed bin Talal. But perhaps they should have done. The prince has a lot of money invested in the UK and wields considerable, albeit discreet, influence.

The 55-year-old nephew of Saudi Arabia's King Abdullah is a multibillionaire who, through his investment company, Kingdom Holdings, has taken large chunks of companies as diverse as the Savoy Hotel Group and London's Canary Wharf.

Bin Talal's power stems from his unique position. He is one of the few people who can tap the giant Saudi sovereign funds for money, so his every word is analysed forensically by the markets.

Last week, though, it is likely that the prince, described by Time magazine as "the Arabian Warren Buffett", was devoting more than a passing interest to his almost 7% share in Rupert Murdoch's News Corp, quietly accumulated over several years.

http://www.guardian.co.uk/media/2011/jan/29/phone-hacking-rupert-murdoch-news-corp

[Hydra]

1. Interesting byplay going on behind the scenes

More interesting still to see one of the "bosses" of the bosses pointed to.

[Joanne98]

2. Yep Fox news junkies would be shocked!