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Elon Musk halts $44bn Twitter purchase deal

“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users.”

Victor Amadu by Victor Amadu
May 13, 2022
in Business, Social Media
0
Done Deal! Twitter Confirms Sale Of Company To Elon Musk For $44bn
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Tesla’s CEO, Elon Musk, has announced the temporary suspension of his $44bn Twitter purchase. ayokinews.com reports

Musk made the announcement via his verified Twitter handle on Friday.

ReadAlso

NGX: Investors lose N807bn in days as equities market decline persists

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Announcing the suspension, Elon Musk wrote, “Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users.”

Due to the temporary suspension in the much-anticipated Twitter purchase, shares in the social media giant may be hanging in the balance.

Read Also: Elon Musk warns AI could create an ‘immortal dictator from which we can never escape’

Meanwhile, Elon Musk, has made the removal of spam accounts and bots a key component of his planned $44 billion purchase of Twitter.

In April, when the purchase was revealed, Musk stated his intentions to make Twitter “better than ever” by “defeating the spam bots and authenticating all human” users of the platform.

Check Also: Twitter plunges 22% in pre-market trade after Musk tweets buyout deal temporarily on hold

Tags: Elon MuskTwitter Purchase
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Victor Amadu

Victor Amadu is the CEO/Founder of Ayoki Media, a firm with interest in online news broadcast and advertisement.

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