SAN FRANCISCO: Around 300 billion Korean won ($208 million) would be contributed by South Korea’s Mirae Asset Financial Group to support Elon Musk’s $44 billion purchase of Twitter, according to a source with knowledge of the issue who spoke to Reuters on Monday.
Before the deadline for the closure of the Twitter contract on October 28 the source stated, the agreement with Mirae is anticipated to be completed in the upcoming days.According to the source, Mirae Asset made an investment in Musk’s rocket and satellite company SpaceX earlier this year.
While Mirae Asset declined to comment, Musk’s attorney was not immediately available for comment.”Investment banks claim that Mirae Asset is setting up a 300 billion won fund to assist Musk’s acquisition of Twitter.
The plan is for Musk and the fund to jointly purchase a share in Twitter, “The newspaper publishedAnalysts claim that in order to finance the purchase of Twitter and prevent additional sales of his Tesla stock, Musk must entice more equity investors.
A Delaware judge earlier this month gave Musk until October 28 to finish his takeover of the social networking site.Investors at Tesla have worried that the billionaire may sell additional Tesla stock to finance the transaction, which would hurt its stock price.