Virgin Group Suspends Talks with Saudi Arabia about Planned $1Bln Investment

Local Editor

Tycoon Richard Branson halted negotiations with the Saudi government's Sovereign Wealth Fund about planned multimillion dollar investments in Virgin's space program, The Financial Times reported Thursday.

Branson also suspended talks about two large-scale tourism projects planned by Riyadh along the Red Sea as a crisis builds over the disappearance and alleged murder of Saudi journalist Jamal Khashoggi, the paper added.

Relatively, the head of the UK-based international company Virgin Group told The Guardian that he had had "high hopes for the current government in the kingdom and its leader Crown Prince Mohammed bin Salman."

However, if reports alleging the murder of the Washington Post columnist proved to be true, it "would clearly change the ability of any of us in the West to do business with the Saudi government," Branson added.

Khashoggi, a columnist for The Washington Post, disappeared last week after entering the Saudi consulate in Istanbul to obtain wedding papers.

Turkish authorities reportedly believe Khashoggi was murdered by a team of 15 Saudi security operatives, who dismembered his body and smuggled the remains out of the compound. The Saudis claim the journalist left the consulate shortly after entering and then vanished.

Source: News Agencies, Edited by website team