Prince Alwaleed bin Talal, the billionaire Saudi businessman and investor who was seized about two weeks ago in an anti-corruption drive in the kingdom, has sold his $1.5 billion stake in 21st Century Fox, the entertainment company controlled by Rupert Murdoch.
The prince began to invest in News Corporation in 1997 and remained a shareholder in both News Corp and 21st Century Fox after the companies became separate entities in 2013.
In February 2015 Kingdoms Holding said that it had reduced its stake in News Corp from 6.6 per cent to 1 per cent, although it re-affirmed the prince's support for the company.
Filings in the United States show that the prince has been steadily withdrawing from 21st Century Fox from around the same time. His holding dropped below 5 per cent in December 2015 and he is now understood to have sold all his remaining shares.
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