Elon Musk has put his takeover of Twitter “temporarily on hold” over concerns about the number of spam and fake accounts on the social media platform, raising doubt over whether he will complete the $44bn deal at all.
Elon announced on Twitter today that the deal was being held “pending details supporting” a calculation in the company’s regulatory filings suggesting that the number of fake accounts on the platform represents under 5 per cent of its 229mn users.
The statement immediately hit Twitter’s share price, with the stock tumbling about 10 per cent.
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