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posted by takyon on Sunday August 26 2018, @03:01PM   Printer-friendly
from the full-thrust-reverse-engine-spin dept.

Submitted via IRC for SoyCow1984

CEO Elon Musk: Tesla will remain a public company

In a blog post published Friday evening, Tesla CEO Elon Musk said that he would change course from his sudden announcement three weeks ago and would actually keep Tesla as a publicly-traded company.

"It's apparent that most of Tesla's existing shareholders believe we are better off as a public company," he wrote. "Additionally, a number of institutional shareholders have explained that they have internal compliance issues that limit how much they can invest in a private company. There is also no proven path for most retail investors to own shares if we were private."

Musk noted that he had met with the Tesla board of directors on Thursday and "let them know that I believe the better path is for Tesla to remain public. The board indicated that they agree."

See also: Analysis: Why Elon Musk abandoned his plan to take Tesla private


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  • (Score: 0) by Anonymous Coward on Sunday August 26 2018, @06:59PM

    by Anonymous Coward on Sunday August 26 2018, @06:59PM (#726643)

    How is it Capitalism to tell someone that he can't use "his own" money to buy shares in a company?

    Government corrupts capitalists, not the other way around.