Elon Musk halts $44bn Twitter purchase deal
Elon Musk, Tesla CEO, has said that plans to buy Twitter for $44 billion has been temporarily put on a hold.
Must made the announcement on Friday via his Twitter handle.
Text of his post on Twitter reads, “Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users.”
The halt on the much-anticipated Twitter deal may have necessitated sending shares in the social media giant hanging.
Meanwhile, the founder of Tesla, had made the eradication of spam accounts and bots one of the cores of his proposed $44 billion takeover of the Twitter app.
In April, when the deal was announced, Musk made known his plans to make Twitter “better than ever” by “defeating the spam bots and authenticating all humans.”