The purchase of Nintendo stock by the Saudis entangles the video game company into the politics surrounding Saudi Arabia and its assertive crown prince.
DUBAI, United Arab Emirates — A Saudi sovereign wealth fund now holds 8.26% of the stock in the video game maker Nintendo, making it the largest outside investor in the Japanese gaming outfit, a company filing said Friday.
The investment comes as part of efforts by the kingdom’s Public Investment Fund to diversify Saudi Arabia’s economy away from oil, including billions already spent on video game firms. The fund has been a major component in the plans of Saudi Crown Prince Mohammed
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