RIYADH: Saudi billionaire Prince Walid bin Talal and his Kingdom Holding Company announced a combined investment of $300 million in the social networking site Twitter, in a statement Monday.'Our investment in Twitter reaffirms our ability in identifying suitable opportunities to invest in promising, high-growth businesses with a global impact,' Prince Walid said in the statement released on Kingdom Holding s website.The statement said that the investment was finalised after 'several months of negotiations' and represented a 'strategic stake' in the social networking site.Prince Walid, a media mogul and one of the world s richest men, in September announced plans to launch Alarab, a pan-Arab news channel, by 2012, saying the television network will promote freedom of speech.Social networking sites like Twitter and Facebook played a crucial role in spreading information and organising protests in the revolutions that have rocked the Arab world since January.
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