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Saudi Prince doubles shares in Twitter

Saudi billionaire Prince Alwaleed Bin Talal and his investment company have doubled their shares in Twitter, to become the microblogging site's second largest shareholder.

A joint statement released yesterday by the prince and his Kingdom Holding Company revealed that their combined shares represent more than five per cent of Twitter's common stock, with a market value of $1 billion.

The prince and Kingdom Holding originally invested $300 million in Twitter in 2011 before the site went public two years later.

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