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00:00:00
>> This is my Diet Pepsi.>> The release of Saudi Arabia's billionaire prince, Alwaleed bin Talal over the weekend has surged stock in his main company, past their price when he was initially detained last November. And he says his arrest, reportedly for bribery and extortion was a big misunderstanding.
00:00:19
Reuters Katie Paul spoke with him exclusively.>> There's no charges. There's just some discussion with him and the government.>> So although the market really welcomed the release of Prince Alwaleed and the others who were leaving the Ritz-Carlton, there were still so many unanswered questions about the nature of the financial settlements that were reached and whatever the accusations were in the first place.
00:00:43
That it has a chilling effect on the market broadly and on the business environment broadly. And could portend some difficulties going forward with foreign investment that Saudi Arabia is trying to attract and particularly for its privatization drive.>> Financial sources say banks are keeping their distance from Alwaleed, spooked by the mystery around the corruption probe that netted him and other members of the Saudi elite and the circumstances of their sudden release.
00:01:13
The probe was led by Crown Prince Mohammed, which also strengthened his power by weeding out rivals.>> He seemed like he was in all right condition, contrary to reports of torture. And he certainly projected an air of control and confidence, that he would be vindicated through this process and would maintain his innocence.
00:01:34
He also expressed his allegiance and, Support for the reforms of Crown Prince Mohammad bin Salman and King Salman.>> Meanwhile, another recently released tycoon media mogul Waleed al-Ibrahim is expected to retain control of regional broadcaster MBC. A source at the company says he was innocent. But Saudi officials say he, too, reached a financial settlement, which they say means he admitted wrongdoing.