Tesla 'to be probed by regulators' over privatisation plan

Shares in Tesla have fallen 4% on reports that US regulators are seeking to question executives at the firm about its privatisation plans.
Fox News tweeted that the US Securities and Exchange Commission (SEC) had sent subpoenas to the electric carmaker and was "ramping up" its investigation.
Last week, boss Elon Musk said he was considering taking Tesla private, but some have questioned his intentions.
Both Tesla and the SEC declined to comment on the Fox report.

Charles Gasparino ✔ @CGasparino
SCOOP: SEC ramps up investigation into Tesla privatization plans; sends subpoenas to Tesla regarding privatization plans and Musk's statements involving "funding secured"--sources Subpoenas signal investigation has reached the "formal" stages -- sources more now @FoxBusiness
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On Tuesday, Tesla's board of directors said it had not received a formal proposal from Mr Musk to take the company private.
This is despite the fact that the firm has created a special committee of three directors to evaluate any such proposal.
While companies are allowed to make announcements via social media, typically they also make a simultaneous regulatory filing.
If Mr Musk's proposal goes ahead, it will be the biggest deal of its kind, valuing the company at $70bn (£55bn).



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