Tech

Elon Musk puts Twitter deal on hold over fake account details

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Posted: 14/05/22 - 10:19
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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.

I Call True: Oooh bold move by Musk already who is exposing the underbelly of Twitter before he gets too involved!

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3 Comments
12 days
4 upvotes
A lot more than 5%. Good to see Musk calling them on this BS
13 days
4 upvotes
He'll be doing this as a negotiation tactic for sure.
13 days
2 upvotes
No way it is as low as 5% that's for sure!