Elon Musk puts Twitter deal on hold, explains why the deal is getting stuck
Elon Musk has been in the headlines since last month for his $44 billion Twitter deal. Meanwhile, he has again surprised people by tweeting about its latest status. He has put his Twitter deal on hold. Elon Musk, while announcing his decision on Friday, has also given the reason for this.
Why Twitter deal is on hold?
Elon Musk said on Friday that his $44 billion deal for Twitter Inc. has been temporarily halted, citing ongoing details on spam and fake accounts. “Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users” Musk said in a tweet.
Following this news, shares of Twitter, the social media company have fallen 20% in premarket trading. Twitter did not immediately respond to Elon’s tweet. The company estimated earlier this month that false or spam accounts had decreased in these three months.
Elon Musk, the world’s richest man and owner of Tesla Inc., had already made a promise to his followers before this deal. He had said that one of his priorities would be to remove ‘spam bots’ from the Twitter platform.
