He suggests the company has underreported spam bots and fake accounts.
LONDON — Elon Musk said Friday that his plan to buy Twitter for $44 billion is “temporarily on hold” as he tries to pinpoint the exact number of spam and fake accounts on the social media platform, another twist amid signs of internal turmoil over the proposed acquisition.
In a tweet, the Tesla billionaire linked to a Reuters story from May 2 about a quarterly report from Twitter that estimated false or spam accounts made up fewer than 5% of the company’s “monetizable daily active users” in the first quarter. It wasn’t clear whether the issue could scuttle the deal. Stock in both Twitter and Tesla swung sharply in opposite directions, with Twitter’s stock tumbling 18%, and shares of Tesla, which Musk had proposed using to help fund the Twitter deal, jumping 5%.
He added that the Musk’s use of Twitter rather than a financial filing to make the announcement was troubling and “sends this whole deal into a circus show with many questions and no concrete answers as to the path of this deal going forward.”
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