Saudi sovereign fund PIF has bought a below five percent stake in Tesla: source

 Saudi sovereign fund PIF has bought a below five percent stake in Tesla: source

DUBAI (Reuters) - Public Investment Fund, Saudi Arabia's sovereign wealth fund, has bought a minority stake in Tesla at just below 5 percent, a source familiar with the matter said on Tuesday.

PIF did not immediately respond to a Reuters query for comment, while Tesla declined to comment. The source declined to be identified because the stake purchase is not public.

PIF, one the world's biggest sovereign wealth funds with $250 billion in assets, also has a stake in Uber as it has identified technology as a key area for investment.

The Financial Times reported the stake purchase earlier.

(Reporting by Hadeel Al Sayegh, additional reporting by Tom Arnold; Writing by Saeed Azhar; editing by David Evans)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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Updated Date: Aug 08, 2018 01:06:03 IST