Economy

Mirae Asset is in discussions to help Elon Musk’s Twitter deal.


© Stocksak. FILEPHOTO: This illustration was taken on July 13, 2021. REUTERS/Dado Ruvic/Illustration

By Hyunjoo Jin

SAN FRANCISCO (Stocksak). South Korea’s Mirae Asset Financial Group plans to contribute about 300 billion Korean won ($208m) to Elon Musk’s $44 billion buyout. Twitter Inc (NYSE:), Stocksak was told by a person who is familiar with the matter on Monday.

According to the source, the Mirae deal is expected to be completed in the next few days before the Oct. 28 deadline for closing Twitter deals.

Mirae Asset invested in Musk’s rocket company SpaceX earlier this year, the person stated.

Musk’s lawyer, Mirae Asset, were not immediately available to comment.

The Korea Economic Daily previously reported Mirae Asset’s investment plan for Twitter.

Analysts say Musk should attract more equity investors in order to finance the purchase of Twitter and avoid future sales of his stock stake in Tesla (NASDAQ):

Musk was given by a Delaware judge until Oct. 28th to close his takeover.

Tesla investors feared that the billionaire might buy more Tesla stocks to finance this deal, which could weigh on the shares.

($1 = 1,442.9400 won)

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