Elon Musk suspends Twitter takeover

Is Elon Musk giving up on Twitter? By announcing in a tweet, on Friday, May 13 in the morning, that he was suspending his takeover, pending clarification of the number of fake accounts on the social network, the whimsical billionaire at least managed to surprise. And to trigger a set of assumptions from financial circles and the international press on the meaning to be given to this rebound.

“He could seek to renegotiate the price or even abandon the buyout,” according to the assumptions of financial analysts, summarizes the BBC.

By announcing “that its takeover of Twitter for $44 billion was ‘temporarily suspended’ until the billionaire gets more information on the proportion of fake accounts”, Elon Musk has in any case “plunges the social media giant into a new abyss”, relief Bloomberg.

Twitter stock lost 20% in trading before Wall Street opened on Friday morning, while Tesla stock gained 5%. An altogether logical reaction from the markets, which increasingly doubted “Musk’s ability to complete its acquisition”, adds the American economic media. Even more in the context of stock market turbulence which has particularly affected tech stocks in recent days. Which suggests that “the entrepreneur could envisage

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.