Musk shelves $44-billion Twitter deal 'temporarily', shares slump - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Elon Musk put his $44-billion deal for Twitter Inc “temporarily on hold” on Friday while he awaits data on the proportion of its fake accounts, sending the shares in the social media platform plunging.

Elon Musk's Twitter profile is seen on a smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022.Elon Musk's Twitter profile is seen on a smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022.

“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk told his more than 92 million Twitter followers on Friday.story from May 2 that said Twitter had estimated that false or spam accounts represented fewer than 5% of its monetizable daily active users during the first quarter, when it recorded 229 million users who were served advertising.

The implied probability of the deal closing at the agreed price fell below 50% for the first time on Tuesday, when Twitter shares dropped below $46.75.

 

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He is gonna pull out😅

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