Acting on orders from a newly established anti-corruption committee, headed by Crown Prince Mohammed Salman, police arrested 11 princes, four ministers and dozens of former ministers, the Saudi-owned Al Arabiya television reported. Alwaleed(filepic) was among those detained.
DUBAI: Shares of Kingdom Holding Co plunged after billionaire chairman Prince Alwaleed Talal was arrested as part of an anti-corruption purge in Saudi Arabia.
The stock fell as much as 9.9%, the most since 2014, at the open in Riyadh. The benchmark Tadawul All Share Index lost 1.7% at 10:05am in the Saudi capital yesterday.
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