Musk sells Tesla shares worth $6.9 billion, cites chance of forced Twitter deal - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Tesla Inc Chief Executive Officer Elon Musk sold $6.9 billion worth of shares in the electric vehicle maker, saying the funds could be used to finance a potential Twitter deal if he loses a legal battle with the social media platform.

“In the event that Twitter forces this deal to close *and* some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock,” he said in a tweet late on Tuesday.

“Street will read through this poker move that chances of Twitter deal more likely now,” Dan Ives, an analyst at Wedbush Securities, tweeted.

 

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