Advertisement
trendingNowenglish2463182https://zeenews.india.com/technology/elon-musk-s-44-billion-twitter-deal-temporarily-on-hold-here-s-why-2463182.html

Elon Musk’s $44-billion Twitter deal temporarily on hold! Here’s why

Elon Musk said that his $44-billion deal for Twitter Inc was temporarily on hold.

Elon Musk’s $44-billion Twitter deal temporarily on hold! Here’s why

New Delhi: Elon Musk said on Friday his $44-billion deal for Twitter Inc was temporarily on hold, citing pending details on spam and fake accounts. "Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users," Elon Musk said in a tweet. Shares of the social media company fell 20% in premarket trading. Twitter did not immediately respond to a request for comment. The microblogging platform had earlier this month estimated that false or spam accounts represented fewer than 5% of its monetizable daily active users during the first quarter.

It also said it faced several risks until the deal with Musk is closed, including whether advertisers would continue to spend on Twitter.

Musk, the world`s richest man and the chief executive of Tesla Inc, had said that one of his priorities would be to remove "spam bots" from the platform.

Stay informed on all the latest news, real-time breaking news updates, and follow all the important headlines in india news and world News on Zee News.

NEWS ON ONE CLICK