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Business Maverick: US senator calls for security review of Saudi investment in Twitter

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Democratic Senator Chris Murphy said Saudi Arabian backing for Elon Musk’s purchase of Twitter should be scrutinised by a government panel that reviews national security risks from foreign investments in the US.

“We should be concerned that the Saudis, who have a clear interest in repressing political speech and impacting US politics, are now the second-largest owner of a major social media platform,” Murphy said in aon Monday on the social media platform. “There is a clear national security issue at stake and Cfius should do a review.”

Murphy, of Connecticut, is a senior member of the Senate Foreign Relations Committee. Members of Congress can ask the Committee on Foreign Investment in the United States to look into a transaction, but it doesn’t necessarily trigger a review, according to Shannon Reaves, a partner at Stroock & Stroock & Lavan LLP who works on issues related to the committee.

Still, the request is another political pressure point on the deal, which has drawn a wary reaction from Democrats and cheers from many Republicans.

 

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