Elon Musk abandons plan to take Tesla private

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Elon Musk has abandoned his plan to take Tesla private saying current investors had persuaded him to keep the electric car company as a listed business.

In a late night announcement, the billionaire founder of the company said “given the feedback, it’s apparent that most of Tesla’s existing shareholders believe we are better off as a public company”.

The post on Tesla’s blog added that Mr Musk met with Tesla’s board on Thursday to tell them he wanted to remain as a public business and his fellow directors agreed with the decision.

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