Saudi Arabia’s sovereign-wealth fund said it had bought 5.7% of Live Nation
Saudi Arabia’s sovereign-wealth fund took a $500 million stake in Live Nation Entertainment Inc. as the world’s largest concert promoter faces a year or more without being able to stage any events.
The Saudi Public Investment Fund disclosed Monday that it has taken a 5.7% stake in the company. Live Nation’s stock, which had halved this year, rose 12% on the news to $42.86.
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