Elon Musk, the world’s richest man, said on Friday that his $44 billion deal to buy Twitter is “temporarily on hold” while he awaits more information about the number of fake accounts on the platform.
Musk has previously expressed concerns about the number of bots on Twitter, and he has said that he wants to make sure that the platform is not being used to manipulate public opinion. In a tweet, Musk said that he is “still committed to the acquisition” but that he needs more information to “make an independent assessment of the prevalence of fake or spam accounts on the platform.”
Twitter has said that it estimates that false or spam accounts represent fewer than 5% of its daily active users. However, Musk has said that he believes the number is much higher.
It is unclear what impact Musk’s announcement will have on the Twitter deal. The deal is currently subject to regulatory approval, and it is possible that Musk could walk away from the deal if he is not satisfied with the information that Twitter provides.
The news of the Twitter deal being put on hold sent Twitter’s stock price down by more than 10% in after-hours trading.
The deal between Musk and Twitter was announced in April, and it was expected to close later this year. However, the deal has been met with some resistance from Twitter’s shareholders, who have raised concerns about Musk’s ability to manage the company.
It remains to be seen whether Musk will be able to get the information he needs from Twitter and whether the deal will be able to close. However, his announcement on Friday has certainly cast a cloud over the future of the social media platform.
Link — https://worldgoit.com/archives/posts/news/elon-musk-says-twitter-deal-is-temporarily-on-hold/
