{"id":96325,"date":"2022-05-13T23:12:13","date_gmt":"2022-05-13T20:12:13","guid":{"rendered":"http:\/\/192.163.207.100\/~timesku1\/news\/?p=96325"},"modified":"2022-05-13T23:13:03","modified_gmt":"2022-05-13T20:13:03","slug":"elon-musk-says-deal-to-buy-twitter-temporarily-on-hold","status":"publish","type":"post","link":"https:\/\/timeskuwait.com\/news\/elon-musk-says-deal-to-buy-twitter-temporarily-on-hold\/","title":{"rendered":"Elon Musk says deal to buy Twitter \u2018temporarily on hold\u2019"},"content":{"rendered":"

The billionaire says the deal was temporarily on hold pending details over spam and fake Twitter accounts.<\/em><\/strong><\/h3>\n

Billionaire Elon Musk has announced that his $44bn deal for Twitter Inc was temporarily on hold, citing pending details in support of calculation that spam and fake accounts indeed represent less than 5 percent of users.<\/p>\n

\u201cTwitter deal temporarily on hold pending details supporting calculation that spam\/fake accounts do indeed represent less than 5 percent of users,\u201d Musk wrote on Twitter on Friday.<\/p>\n

Two hours after his first tweet, Musk took to the platform again to say he was \u201cstill committed to acquisition\u201d.<\/p>\n

Shares of the social media company fell 17.7 percent to $37.10 in premarket trading, their lowest level since Musk disclosed his stake in the company in early April and subsequently made a \u201cbest and final\u201d offer to take it private for $54.20 per share.<\/p>\n

The implied probability of the deal closing at the agreed price fell below 50 percent for the first time on Tuesday, when Twitter shares dropped below $46.75.<\/p>\n

Twitter had earlier this month estimated that false or spam accounts represented fewer than 5 percent of its monetisable daily active users during the first quarter, when it recorded 229 million users who were served advertising.<\/p>\n

Controversial figure<\/h2>\n

Musk, the world\u2019s richest man estimated to be worth $240bn by Forbes, is the head of both Tesla and SpaceX.<\/p>\n

His entanglement with Twitter \u2013 and ensuing legal troubles \u2013 go back to at least 2018 when he tweeted that he had enough funds to take Tesla private \u2013 a claim that a judge decided was \u201cfalse and misleading\u201d.<\/p>\n

His potential involvement in Twitter has raised many eyebrows since he announced his bid to take over, not least about the future status of former US President Donald Trump.<\/p>\n

Trump was kicked off Twitter and other social networks following the attack on the US Capitol on January 6, 2021.<\/p>\n

On Wednesday, Musk said he would be open to lifting a ban on Trump\u2019s account.<\/p>\n

The social media company had said it faced several risks until the deal with Musk is closed, including whether advertisers would continue to spend on Twitter amid \u201cpotential uncertainty regarding future plans and strategy\u201d.<\/p>\n

Musk will have to pay a termination fee of $1bn if he walks away from the deal.<\/p>\n

Source: Al Jazeera<\/strong><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The billionaire says the deal was temporarily on hold pending details over spam and fake Twitter accounts. Billionaire Elon Musk has announced that his $44bn deal for Twitter Inc was temporarily on hold, citing pending details in support of calculation that spam and fake accounts indeed represent less than 5 percent of users. \u201cTwitter deal […]<\/p>\n","protected":false},"author":7,"featured_media":96326,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,2],"tags":[],"class_list":["post-96325","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-featured"],"yoast_head":"\nElon Musk says deal to buy Twitter \u2018temporarily on hold\u2019 - TimesKuwait<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/timeskuwait.com\/news\/elon-musk-says-deal-to-buy-twitter-temporarily-on-hold\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Elon Musk says deal to buy Twitter \u2018temporarily on hold\u2019 - TimesKuwait\" \/>\n<meta property=\"og:description\" content=\"The billionaire says the deal was temporarily on hold pending details over spam and fake Twitter accounts. 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