Elon Musk says Twitter deal ‘on hold’ after spam/fake account report

Elon Musk says his deal to buy Twitter is “temporarily on hold” after the social network reported that false or spam accounts comprised less than 5 percent of its 226 million monetizable daily active users. The Tesla CEO, who offered to buy twitter for $44 billion, tweeted a link to a May 2nd Reuters report on Twitter’s filing.

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

The tweet represents the latest speedbump to hit Musk’s attempted takeover of the social media network. As of this writing, Twitter’s share price had plunged 19 percent on the news of the deal being on hold. The company had initially announced a so-called “poison pill” measure to prevent the takeover, before eventually accepting the buyout in late April.


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