Senate Democrats want national security investigation into Saudi Arabia’s role in Elon Musk-Twitter deal | Techno Glob

New York
CNN Business

Democratic Sen. Chris Murphy has called on the federal government to investigate national security concerns raised by Saudi Arabia’s stance on Elon Musk’s takeover of Twitter.

Prince Alwaleed bin Talal of Saudi Arabia helped finance Musk’s $44 billion acquisition of Twitter (TWTR).

Existing $1.9 billion stake
In a social media company. The move makes the Saudi firm the second largest shareholder in Twitter – behind only Musk.

“The Saudis are now the second largest owner of a major social media platform with a clear interest in suppressing political speech and influencing US politics,” Murphy said in a letter. Tweet on monday

The Connecticut Democrat called on the Committee on Foreign Investment in the United States, known as CFIUS, to investigate the “national security implications” of Saudi involvement. CIFUS, an interagency committee chaired by the US Treasury Department, reviews takeovers of US businesses by foreign buyers and has the ability to block transactions that raise concerns.

Although Musk had already closed his acquisition of Twitter late last week, it could still be subject to a national security review.

According to the 2021 annual CFIUS report to Congress, the panel has the authority to “review pending or completed transactions” if the committee member has national security concerns.

“There is a clear national security issue at stake and should be reviewed by CFIUS,” Murphy said, noting that another major social media platform, TikTok, is owned by a Chinese company. “This is a dangerous trend and we don’t have to accept it.”

The White House and the Treasury Department declined to comment in response to Murphy’s calls.

Earlier this month, Twitter shares fell after Bloomberg News reported Biden officials are in early talks to subject some of Musk’s initiatives, including the Twitter deal, to national security reviews.

However, US officials pushed back on the report. “We are now aware of any such conversations,” National Security Council spokeswoman Adrienne Watson said in an Oct. 21 statement.

Source link