Tesla seeking wide investment pool for its take-private plan

Tesla's board might not know where Elon's 'secure' funding is coming from

Tesla's board might not know where Elon's 'secure' funding is coming from

Tesla is holding early discussions with banks about the feasibility and structure of a possible deal, the people said, asking not to be identified as the details aren't public. Well, Tesla is now a publicly traded company and Mr. Musk doesn't like this because being public, as he puts it, "subjects us to the quarterly earnings cycle that puts enormous pressure on Tesla to make decisions that may be right for a given quarter, but not necessarily right for the long-term".

Tesla disclosed in its most recent quarterly report that it has "received requests for information from regulators and governmental authorities", including the SEC.

Musk has not offered evidence that he has lined up the necessary funding to take Tesla private, and the complaints did not offer proof to the contrary.

A second source close to the situation also said PIF was not taking part in any such plan at this stage. A spokesman for PIF was not immediately available for comment.

California-based Tesla has not made any comment about the lawsuits, neither has Mr Musk.

One lawsuit, filed by Tesla investor Kalman Isaacs, said Musk's tweets amounted to a "nuclear attack" on short-sellers, created to "completely decimate" them for not believing in Tesla's stock to date.

Turkish lira hits record low amid financial panic, rising U.S. tensions
High level meetings in Washington between US and Turkish officials ended this week without an apparent resolution. It all started with Turkey's own mistakes - or, more accurately, with Turkish President Recep Tayyip Erdogan's .

Mr Musk, Tesla's founder and chief executive, announced that he might take the company private in a deal worth $72 billion, valuing the company at $420 a share.

Tesla is facing a make-or-break moment in its eight-year history as a public company, as competition from European automakers is poised to intensify with new electric vehicles from Mercedes, Audi, BMW and other rivals.

The Tesla CEO wrote that he would like to provide the shareholders with two options - staying as investors in Tesla as a privately-held company or selling their stock at $420 per share.

Musk has also said he would be looking to keep his ownership of Tesla at around 20 percent in a buyout deal, and that a special objective vehicle, like the one that exists at his aerospace company SpaceX, would allow Tesla shareholders to remain invested if they so choose.

"When you have these grand-vision companies, the founders - these leaders - don't want to have some investors have control", Gene Munster, a managing partner at venture capital firm Loup Ventures said in a Bloomberg TV interview, talking about the idea that Musk wouldn't want to bring in any large new shareholders. If a deal involves debt financing, those providing funding could expect fees of about US$500 million.

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