TokyoTokyo Mon - Fri 10:00-18:00 +81 (368) 662-975
info@mountequitygroup.com

Elon Musk says Twitter takeover ‘on hold’, sending shares tumbling – business live | Business

Mount Equity Group Tokyo Japan > News > Business > Elon Musk says Twitter takeover ‘on hold’, sending shares tumbling – business live | Business

Elon Musk says Twitter deal is on hold until he gets more information about fake accounts

Just in: Elon Musk’s $44bn deal to buy Twitter is “temporarily on hold” until he gets more information about fake accounts on the platform.

The billionaire has tweeted that the deal is on hold, waiting for details supporting the calculation that fake and spam accounts represent less than 5% of the users on its platform, as Twitter said in a filing earlier this month.

Musk linked to a Reuters report from May 2, which said Twitter estimated that false or spam accounts represented fewer than 5% of its monetizable daily active users during the first quarter.

Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of usershttps://t.co/Y2t0QMuuyn

— Elon Musk (@elonmusk) May 13, 2022

The news has sent Twitter’s shares plunging around 23% in pre-market trading, on concerns…

Read more…