Tesla CEO Elon Musk has said that the deal to acquire Twitter is temporarily on hold. Musk had offered $54.20 per share or $44 billion for total control of the social media company Twitter.
“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” tweeted Musk on Friday.
Reuters reported that Twitter didn’t immediately respond to the fresh announcement from Musk.
Earlier this month, Twitter had estimated that false or spam accounts represented fewer than 5% of its monetizable daily active users during the first quarter.
It also said it faced several risks until the deal with Musk is closed, including whether advertisers would continue to spend on Twitter.
Musk had said that one of his priorities would be to remove “spam bots” from the platform.
(With inputs from agencies)
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