saudi arabia

Al Ebrahim to keep control of broadcaster MBC

His 40 per cent stake in MBC would not change, says executive

Reuters
20:03 January 29, 2018

KHOBAR, Saudi Arabia, Jan 29 (Reuters) - Saudi Arabia’s Waleed Al Ebrahim will keep management control of regional television broadcaster MBC following his release from detention in a corruption probe, a senior MBC executive told Reuters on Monday.

The executive, speaking on condition of anonymity under briefing rules, said Al Ebrahim’s 40 per cent stake in MBC would not change and that he was found innocent of any wrongdoing in the probe.

Al Ebrahim, who at the weekend was released along with at least half a dozen other prominent Saudi businessmen detained in the probe, reiterated his allegiance to Saudi Arabia and the ruling family, the executive said.

During his 83 days of detention, Al Ebrahim was well treated, the executive said, adding that his boss was now free to travel but planned to stay in Riyadh for a couple of weeks to handle business.

At the weekend, Saudi officials told Reuters that Al Ebrahim had reached a financial settlement with authorities in the probe, and that settlements did not occur unless suspects had admitted wrongdoing in writing. They did not elaborate.