Elon Musk has suspended the deal to buy Twitter The
Software

Elon Musk has suspended the deal to buy Twitter. The value of the company’s shares fell by 20%.

Tesla and SpaceX founder Elon Musk has suspended a deal to take over the social network Twitter. The businessman does not plan to purchase the service until the exact situation with the number of fake and spam accounts on the platform is clear. writes Independently.

    Source: Vanity Fair

Source: Vanity Fair

Musk mentioned that there are no more than 5% fake users according to the social network. He also said the closing of the transaction will be delayed pending support for these assumptions.

The company’s shares are already down 20% in premarket trading on the news. And that’s without considering the fact that the securities were trading well below the price Musk was offering. At the close on May 13, the price was $45.08 per share, while the billionaire offered $54.20 per share.

The businessman announced plans to take over Twitter at the end of April. The total amount of the deal was $ 44 billion A few days later, the social network published a report for the first quarter of 2022. It became known that the company overestimated the indicators of active users for several years. The platform considered accounts associated with the same author as unique users.

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Robbie Elmers

Robbie Elmers is a staff writer for Tech News Space, covering software, applications and services.

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