LONDON—Elon Musk said Friday that his plan to buy Twitter is “temporarily on hold” as he tries to pinpoint the exact number of spam and fake accounts on the social media platform, another twist amid signs of turmoil over the proposed $44 billion acquisition.
“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5 per cent of users,” Musk said, indicating he’s skeptical that the number of inauthentic accounts is that low. Stock in both Twitter and Tesla swung sharply in opposite directions Friday, with Twitter’s stock falling nearly 6 per cent and shares of Tesla, which Musk had proposed using to help fund the Twitter deal, jumping nearly 7 per cent in trading before the opening bell.
Last week, Musk strengthened the equity stake in his offer for Twitter with commitments of more than $7 billion from a diverse group of investors including Silicon Valley heavy hitters like Oracle co-founder Larry Ellison. “Many will view this as Musk using this Twitter filing/spam accounts as a way to get out of this deal in a vastly changing market,” Ives wrote.
To fund his buy-out of Twitter, Musk is borrowing from banks and using Tesla stocks as collateral?! And now he's also tapping other software developers on the shoulder for help with financing? He's also worried that 'bots' comprise a whole lot of users of Twitter? 'Get out!' 😝
Old news TS, we've already read about this all morning.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk says Twitter deal 'temporarily on hold'Elon Musk said Friday that his planned US$44 billion purchase of Twitter is 'temporarily on hold' pending details on spam and fake accounts on the social media platform, another twist amid signs of internal turmoil over the proposed acquisition. Because you didn’t have the type of conversation with liberty loving truck drivers. This is how Canadians feel about this government union The whiners must be whining loudly
Source: CTVNews - 🏆 1. / 99 Read more »
Elon Musk says Twitter deal 'temporarily on hold'Elon Musk said Friday that his planned $44 billion purchase of Twitter is “temporarily on hold” pending details on spam and fake accounts on the social media platform, another twist amid signs of internal turmoil over the proposed acquisition. Hope it doesn't go through. Elon thinks trump should be allowed to tweet his hate and lies. The name trump should be illegal to say. stop giving this creeper so much attention who didn't see that coming
Source: CP24 - 🏆 30. / 67 Read more »
Elon Musk says Twitter deal 'temporarily on hold' | CBC NewsElon Musk said Friday that his planned $44 billion US purchase of Twitter is 'temporarily on hold' pending details on spam and fake accounts on the social media platform, another twist amid signs of internal turmoil over the proposed acquisition. Take your money and buy a clue, Elon. No one wants you in charge of Twitter. Somewhat predictable, trying to get a lower price..
Source: natnewswatch - 🏆 58. / 59 Read more »
Elon Musk says $44-billion Twitter deal on holdThe Tesla chief says the transaction has been ' temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users’ He never seriously intended to consummate the deal. It was always just a publicity stunt Tesla is crashing and he don’t know who to call 😼 He’ll buy it for $10 billion less in a month.
Source: globeandmail - 🏆 5. / 92 Read more »
Twitter plunges 20% after Elon Musk says $44 billion takeover deal is on holdDoubts have grown in recent days that Musk would be able to pull off his acquisition Another trump. Everything he torches dies. Can you day stock manipulation? Can you say stock manipulation?
Source: nationalpost - 🏆 10. / 80 Read more »