Musk: Twitter deal on hold pending investigation into spam, fake accounts
Shannon Longworth: Elon musk is hitting pause on his push to buy Twitter weeks after agreeing to take the social media company private in a 44 billion dollar deal.
And of course, his announcement came in the form of a tweet–
— saying he was waiting on details about the number of fake accounts on the platform.
Exactly why the estimated number of spam accounts would put the deal on hold is unclear–
But Friday’s news sunk Twitter shares more than 20 percent in premarket trading.
In the past Musk has blasted automated Twitter accounts – saying after the takeover he wanted to improve things by quote “authenticating all humans”.
He’s agreed to pay a one-billion-dollar break fee to Twitter if he walks away from the deal.