WHEN: Today, Thursday, November 10th
WHERE: CNBC's "Squawk on the Street"
Following are excerpts from the unofficial transcript of a CNBC EXCLUSIVE interview with Saudi Prince Alwaleed Bin Talal, Kingdom Holding Co. Chairman, on CNBC's "Squawk on the Street" (M-F, 9AM-11AM ET) today, Thursday, November 10th. Following is a link to the article on CNBC.com: http://www.cnbc.com/2016/11/10/saudi-prince-no-excuse-for-republican-party-to-not-deliver-on-economic-growth.html. Following are links to the video on CNBC.com: http://video.cnbc.com/gallery/?video=3000567003, http://video.cnbc.com/gallery/?video=3000566994 and http://video.cnbc.com/gallery/?video=3000566998.
All references must be sourced to CNBC.
ALWALEED ON TRUMP
I DID CONGRATULATE MR. DONALD TRUMP PUBLICLY BY SENDING A TWEET TO HIM, IT REACHED HIM LAST NIGHT THROUGH HIS DAUGHTER IVANKA AND IT REACHED HIM THROUGH OUR COMMON FRIEND MR. TOM BARRACK. MR. BARRACK IS ALREADY ARRANGING FOR ME TO MEET MR. TRUMP, THE PRESIDENT-ELECT, IMMINENTLY IN SOMEWHERE IN AMERICA. SO I THINK THINGS ARE VERY OKAY RIGHT NOW WITH MR. DONALD TRUMP, PRESIDENT-ELECT OF THE UNITED STATES.
ALWALEED ON GOP GROWTH
THE FACT MR. DONALD TRUMP IS COMING FROM THE BUSINESS COMMUNITY, THE FACT THAT MR. DONALD TRUMP RIGHT NOW HAS THE MAJORITY IN BOTH HOUSES – THE HOUSE OF REPRESENTATIVES AND THE SENATE, I THINK THERE'S NO EXCUSE AT ALL FOR THE REPUBLICAN PARTY RIGHT NOW IS DOMINANT IN THE UNITED STATES AND NOT TO DELIVER THE GROWTH THAT IS EXPECTED FROM THEM.
ALWALEED ON TWITTER
I BELIEVE THAT THE BEST DAYS WITH TWITTER ARE YET IN FRONT OF THEM AND I BELIEVE THAT WHAT MR. JACK DORSEY IS DOING, WE ARE BEGINNING TO SEE THE EARLY INDICATIONS OF SUCCESS. CLEARLY, THE PAST QUARTER WE ARE BEGINNING TO SEE THE GROWTH IN USE, WHICH WAS VERY MUCH REQUESTED AND NEEDED BY THE MARKET. AND I BELIEVE THE COMING QUARTERS WILL CONTINUE TO SHOW THE GROWTH THAT IS NEEDED AND EXPECTED FROM TWITTER.
ALWALEED ON NO ISSUE WITH TRUMP
I HAVE NO PROBLEM AT ALL WITH HIM RIGHT NOW AND I'M HAPPY TO INTERACT WITH HIM AND I BELIEVE THIS WILL BE THE VIEW OF MANY PEOPLE IN THE WORLD AND LEADERS IN THE WORLD. WHETHER IT'S CHINA, MIDDLE EAST OR EUROPE. I THINK CANDIDATE TRUMP FOR SURE IS NOT LIKE PRESIDENT-ELECT TRUMP AND THEN PRESIDENT TRUMP. SO I THINK HE'S PROGRESSING IN THE RIGHT DIRECTION. AND I HOPE AND I BELIEVE THAT ONCE HE TAKES THE REIGNS SOME TIME IN JANUARY, I THINK WE'RE GOING TO SEE ALL THE SKIRMISHES AND ALL THE MISUNDERSTANDINGS THAT WERE RELATED TO CANDIDATE TRUMP BEHIND US.
ALWALEED ON TIME WARNER/AT&T MERGER
THE ISSUE OF THE POTENTIAL MERGER ACQUISITION BY AT&T OF TIME WARNER IS REALLY GOING TO TAKE A LOT OF -- IT'S GOING TO GO THROUGH A LOT OF REGULATORY SCREENING. THIS IS REALLY, IT'S BEYOND JUST MR. TRUMP. AND THE MARKET EXPECTATION THAT THIS DEAL MAY HAPPEN AND MATERIALIZE IS NOT VERY HIGH BECAUSE YOU HAVE SEEN THAT THE MARKET PRICE DID NOT GO TO WHAT AT&T'S OFFERING TIME WARNER. I UNDERSTAND IT'S A VERTICAL INTEGRATION, NOT HORIZONTAL, BUT STILL, I THINK IT'S GOING TO GO THROUGH SOME DIFFICULTY BY THE UNITED STATES.
ALWALEED ON CHANGE
CLEARLY THE MEDIA AND TWITTER SPECIFICALLY IS REALLY AT THE VANGUARD OF BEING THE TOOL TO SEND THEIR MESSAGES TO THE PEOPLE. HAVING SAID THAT, I BELIEVE THE MAIN REASON OF MR. TRUMP WINNING WAS REALLY ONE WORD, IT WAS THE ELEMENT OF CHANGE. I THINK PEOPLE IN THE UNITED STATES ARE FED UP FROM THE OLD SYSTEM OF HAVING THESE TWO PARTIES CONTINUE FIGHTING, IN AMERICA. I BELIEVE THIS IS A WORLDWIDE SYNDROME, NOT ONLY THE UNITED STATES, BUT ALSO IN BRITAIN – YOU'VE SEEN BREXIT. WE'VE SEEN IN FRANCE HOW THE NATIONAL PARTY IS GETTING INTO THE 20-30 PERCENT RANGE. SO THIS IS REALLY A WORD THAT IS SPREADING AROUND THE WHOLE WORLD.
ALWALEED ON THE UNITED STATES BEING NUMBER ONE
I HEAR A LOT OF TALK ABOUT THE UNITED STATES BEING DOWN. NO MATTER HOW MUCH THE UNITED STATES IS DOWN, BUT I TELL YOU AMERICA WILL NEVER BE OUT. AND I REITERATE THE WORD OF MY FRIEND WARREN BUFFETT. THAT NO MATTER WHAT HAPPENS, THE UNITED STATES IS STILL NUMBER ONE. AND I SAY TO THE AMERICAN PEOPLE HAVE CONFIDENCE IN YOUR COUNTRY, HAVE CONFIDENCE IN YOUR NATION. WE LOOK AT YOU AS BEING THE VANGUARD AND BEING THE LEADERS OF THE WORLD. NOT ONLY POLITICALLY. POLITICALLY, ECONOMICALLY, FINANCIALLY AND ALL OVER, EVEN MILITARILY. SO, YES, SOMETIMES THE UNITED STATES COME DOWN BUT EVERY TIME, THE UNITED STATES COMES OUT STRONGER.
ALWALEED ON CITI
CITI IS DEFINITELY ON TRACK TO ACHIEVE BETTER RESULTS. WE'RE SEEING RIGHT NOW HOW THE MARKET REACTED VERY POSITIVELY TO THE LATEST RESULTS. CLEARLY MR. CORBAT IS SHOWING INCREDIBLE LEADERSHIP WHEREBY HE IS PUTTING CITI BACK ON TRACK. AND I BELIEVE NOW THEY'RE GOING TO BE A MONEY MAKING MACHINE. AND CLEARLY WITH THE RISING – THE POTENTIAL OF RISING INTEREST RATES ENVIRONMENT IN THE COMING MONTHS AND YEARS, THIS WILL BE VERY LUCRATIVE FOR THEM .
ALWALEED ON APPLE
APPLE DELIVERED VERY GOOD RESULTS, BUT CLEARLY THE MARKET IS DEMANDING A LOT MORE FROM MR. COOK RIGHT NOW. AND CLEARLY MR. COOK WHO IS VERY GOOD FRIEND OF MINE, OBVIOUSLY, HAS A LOT OF THINGS GOING FOR HIM. I MEAN, YOU SEEN THE PROBLEM WITH SAMSUNG. AND I BELIEVE THAT WHAT WENT WRONG WITH SAMSUNG COULD POTENTIALLY BE POSITIVE FOR APPLE IN THE COMING TWO, THREE QUARTERS.
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