(Bloomberg) -- Kingdom Holding Co., the investment company owned by Saudi billionaire Prince Alwaleed Bin Talal, cut its stake in Rupert Murdoch’s News Corp.
Kingdom decreased its shareholding in Class B shares to 1 percent from 6.6 percent, the company said in a statement on the Saudi stock exchange website today.
The sale generated 705 million riyals ($187 million), which will be used for other investments, it said.