FIRST AIRED: January 29, 2018

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

×

Transcript

00:00:00
>> I miss my Diet Pepsi.>> The release of Saudi Arabian billionaire investor, Prince Alwaleed bin Talal, boosting the country's stock market on Sunday. But the aftereffects of a purge of Saudi Arabia's business elite may last for years, says Reuters correspondent Katie Paul who spoke exclusively with Prince Alwaleed.
00:00:18
>> 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. 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.
00:00:51
>> There are no charges.>> Okay.>> It's just some discussions between me and the government.>> When I went to interview Prince Alwaleed in the Ritz, he was thinner than he had been in a previous interview, an interview that he'd given shortly before his detention. He was also grayer, his hair was gray, and he had grown a gray beard.
00:01:13
Otherwise, he seemed like he was in all right condition, contrary to reports of torture. And he certainly projecteded an air of control and confidence that he would be vindicated through this process and would maintain his innocence, and as such, would be able to keep his stake in his company, Kingdom Holding, which has investments all around the world, Citigroup, Twitter, Lyft, and so on.
00:01:38
And so he was quite confident that he would walk away with the full control of that. And he also expressed his allegiance and support for the reforms of Crown Prince Mohammed bin Salman and King Salman.>> Alwaleed along with several other top Saudi business tycoons were held for more than 80 days inside a makeshift detention center at the Ritz Carlton hotel in Riyadh as part of a corruption purge.
00:02:06
It's widely believed that Alwaleed, who was reportedly accused of bribery and extorting officials, bought his freedom by transferring a chunk of his vast fortune to the government.