Musk puts Twitter deal on hold due to background checks on fake accounts
Musk suspends deal to buy Twitter
American businessman Elon Musk announced the suspension of the deal to buy Twitter. He wrote about this in his account in the service.
"Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users," the tweet says.
Shares of Twitter have since fallen 20 percent in pre-trading, while Tesla stocks are up more than five percent.
In late April, Musk announced that he had agreed to acquire the network for $44 billion. According to the businessman, he believes in the potential of Twitter to become a platform for free speech.
Twitter Inc. was founded in 2006. Its main product is a social network for exchanging short messages. The headquarters is located in San Francisco, California.
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