Musk says Twitter deal on hold as he awaits details on fake accounts
Musk tweeted that he was “still committed to the acquisition
By Shubhangi Mathur
Published - May 13, 2022, 07:34 PM ET
Last Updated - Feb 27, 2024, 03:04 PM EST
Billionaire Elon Musk said on Friday that Twitter Inc (NYSE: TWTR) deal is temporarily on hold as the information on the number of fake accounts on the platform is still pending.
“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk tweeted.
Around after two hours, Musk tweeted that he was “still committed to the acquisition.”
Shares of the company fell as much as 18% in the day, closing at a decline of 9.7%.
