Elon Musk said his $ 44 billion deal for buying Twitter has been temporarily put on hold. The billionaire cited expectation of details on spam and fake accounts as the reason.
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“Twitter contract temporarily suspended pending details confirming whether spam / fake accounts actually account for less than 5% of users,” Musk wrote in a tweet.
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Musk stopped buying Twitter
The shares of the company that owns the social platform fell by 17.7 percent. up to $ 37.10 in pre-session trading – the lowest level since Musk disclosed his stake in the company in early April and then made his “best and final” takeover bid for $ 54.20. for the action – the Reuters Agency reported.
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Twitter did not immediately respond to a request for comment. Musk or Tesla representatives were also not immediately available, Reuters reported.
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The agency added that the company earlier this month estimated that fake or spam accounts accounted for less than 5% of the total. its active users. Twitter also said it was facing several risks pending the closure of its deal with Musk, including whether advertisers will continue to spend money on the platform.
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Elon Musk on Twitter moderation
Musk, the richest man in the world and president of the automotive concern Tesla, said that one of his priorities will be to remove “spam bots” from the platform. He also criticized Twitter’s moderation policy. He said he wants Twitter’s algorithm to prioritize tweets to be public and is opposed to too much power over the corporate services they advertise on the platform, Reuters explained.
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Earlier this week, Musk announced it would lift the Twitter ban on former US President Donald Trump when he buys the social platform, pointing to an intention to limit the platform’s moderation.
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Read more: Elon Musk makes a tempting offer, Donald Trump has a problem. Might lose a lot
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Elon MuskPAP/EPA/CHRISTIAN MARQUARDT / POOL
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photo-source">Main photo source: PAP/EPA/CHRISTIAN MARQUARDT / POOL
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