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| 14 January, 2018

Saudi's Kingdom Holding jumps on hope for Prince Alwaleed settlement

Senior Saudi official tells Reuters that Prince Alwaleed is negotiating possible settlement with authorities.

An investor gestures as he monitors a screen displaying stock information in Riyadh, Saudi Arabia, November 6, 2017.

An investor gestures as he monitors a screen displaying stock information in Riyadh, Saudi Arabia, November 6, 2017.

REUTERS/Faisal Al Nasser
Shares in Saudi Arabia's Kingdom Holding jump 7.6 percent to 9.36 riyals, highest level since Nov. 6, just after chairman and owner Prince Alwaleed bin Talal was detained in sweeping anti-corruption crackdown

Senior Saudi official tells Reuters that Prince Alwaleed is negotiating possible settlement with authorities but so far has not agreed on terms; "he offered a certain figure but it doesn’t meet the figure required from him, and until today the attorney-general hasn’t approved it"

Kingdom Holding has said it is continuing to operate normally during Prince Alwaleed's detention

Saudi stock index rises 1.0 percent (Reporting by Andrew Torchia)

© Reuters News 2018