Latest UK News - Breaking News & Headlines

Goldman Sachs Advises Tesla At The Stock Exchange


Goldman Sachs advises Tesla at the Stock Exchange. Car manufacturer Tesla is advised by investment bank Goldman Sachs when planning the stock exchange.


That’s what Tesla CEO Elon Musk reports in a tweet on Tuesday, which makes his plan to get the company off the stock market even more severe.

In addition to Goldman Sachs, Tesla also works with Silver Lake for financial advice, plus some law firms for legal advice.

Elon Musk tweeted last week, much to the astonishment of many, that he is planning to take Tesla off the stock market. On Monday, he gave more details in a blog.

The stock exchange exit would be supported for a large part by the Saudi state fund, with which Musk has been in contact for two years.

If Musk wants to buy up all the shares, that will amount to a sum of more than 55 billion pounds. According to Musk, that amount is much too high.

After the company has been taken off the stock exchange, according to the estimation, the same shareholders still hold about two-thirds of the shares.

The tweets caused angry reactions
Musks tweet from last week was not thanked by many. Several investors have accused him and his company.

They call the tweets false and misleading, and a ‘nuclear attack’ aimed to eliminate short sellers (people who speculate on price falls).

They also say that Musk’s statements have artificially boosted the price of the Tesla share and that he has thereby infringed the federal stock market laws.

The stock market watchdog SEC also started an investigation.

Leave A Reply