Elon Musk abandons plan to take Tesla private


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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