HomeBanking & FinanceSaudi’s PIF signals BeIn investment interest
By Economy Middle East
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October 17, 2022 4:14 pm

Saudi’s PIF signals BeIn investment interest

But no formal approach has been made as of yet
PIF
beIn television studios in Doha (Image credit: Alamy)

Saudi Arabia’s sovereign wealth fund is interested in investing in Qatar-based sports broadcaster BeIN Sports, according to Bloomberg.

The Public Investment Fund (PIF) is believed to be one of several potential suitors for BeIN, which has channels in Europe, the Middle East, Asia, and Oceania. BeIN is also said to be considering an initial public offering (IPO).

However, no formal approach has been made as of yet.

Saudi Arabia has already hosted the likes of Formula One and WWE and, in 2029, it will stage the Asian Winter Games. The nation is also financing the breakaway LIV Golf circuit and last year saw PIF acquire Premier League soccer club Newcastle United.