The turbulence surrounding the takeover of Twitter by Elon Musk is still putting pressure on the short message service’s papers today. The stock was down more than 5 percent after the US stock exchanges opened. Reason should be, among other things, the trouble with the lawyers of the online service.
They accuse him of breaking a confidentiality agreement, as Musk wrote on Sunday night. From the point of view of the legal department, he had revealed too much about Twitter’s approach to identifying automated tweeting accounts.
Musk had previously made such bot accounts an issue himself. He said on Friday that the deal to take over Twitter was temporarily suspended. He first wants to wait for calculations to show that accounts without real users actually account for less than five percent.
Industry observers wondered whether Musk wanted to try to get out of the expensive deal or at least push the price down. To the Wall Street Journal According to the 50-year-old billionaire, the second clarifying tweet was only released after pressure from his lawyers.
Musk followed up on Saturday. His team will randomly select 100 followers of the online service’s Twitter account and check the proportion of fake and bot accounts among them. He chose the number of 100 because Twitter also uses a test group of this size. The Twitter legal department then complained that this number was subject to a non-disclosure agreement, Musk later wrote.
From the SHAREHOLDER’s point of view, there are currently too many uncertainties surrounding the takeover of Twitter. Therefore, we stand by our assessment from Issue 18 to pocket the recent price gains and let the Musk phenomenon run its course.
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(With material from dpa-AFX)
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