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Elon Musk puts Twitter deal on hold over fake account details

Category: World

Date: 2022-05-13T15:54:02+0000
Elon Musk puts Twitter deal on hold over fake account details

Shafaq News / Elon Musk has said his $44bn (£35bn) deal to buy Twitter is on hold after he queried the number of fake or spam accounts on the social media platform.

He said he was waiting for information "supporting [the] calculation that spam/fake accounts do indeed represent less than 5% of users".

Mr Musk added later that he was "still committed to [the] acquisition".

However, analysts speculated he could be seeking to renegotiate the price or even walk away from the takeover.

Mr Musk's tweets sent Twitter's share price plunging 10% in morning trade in New York.

Even before his comments, the company's stock had been selling for less than the $54.20 per share Mr Musk has offered, a sign that the markets were not convinced he would complete the buyout.

(BBC News)

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