Musk says Twitter deal ‘temporarily suspended’ over reports of fake accounts

There is another twist in it Twitter deal.

Elon Musk said early Friday that its plan to buy the social media company was “temporarily suspended” because of a report. fake accounts platform.

It is not immediately clear from Musk’s tweets whether formal steps have been taken to stop the acquisition, which at an agreed price of about $ 44 billion at the end of April. The value of Twitter, which is calculated based on the price of shares, has decreased in recent weeks. Wider decline in technology stocks.

Twitter was worth about $ 35 billion on Friday morning. Shares of Twitter fell about 13 percent during pre-market trading after Musk tweeted.

Musk did not immediately respond to inquiries about the steps taken to end the deal via Twitter.

Musk’s tweet included a link to a May 2 Reuters article in Twitter public documents in which the company said that fake or spam accounts accounted for about 5 percent of its total user base. Musk has made the fight against fake accounts a major part of his rationale for buying the company.

Twitter currently has about 229 million daily active users.

That the deal has not been made yet. Acquisitions of large companies can often take months or even years, and Twitter has already shown signs of significant change. Thursday, Twitter fired two executives և Defined job freeze.

Musk deal on Twitter purchase included a $ 1 billion payment if he leaves the deal.

Muskie’s announcement on Friday adds a “one chapter to what has already been winding up” – a bizarre buying process that began in early April when it turned out that he has acquired a major stake in Twitter.

But since then, the circumstances of Twitter and the wider tech industry have changed. Initially agreeing to join the Twitter Board, Musk reversed the course և instead began to take over, eventually agreeing to a deal with the company board.

Musk has since attracting investorsbut his personal circumstances have also changed. Bloomberg Billionaires Index Muskie is still considered the richest man in the world, but his fortune in 2022 fell by almost 20% (about $ 56 billion), which is largely due to the sharp decline in shares of Tesla, where he is the CEO. Part of the money that Musk took as a loan for the deal is backed by Tesla shares.

The well-known investment group recently said that it believes in Musk may try to submit a lower bid for Twitter.

Dan Ives և John Los Angeles-based investment firm Wedbush Securities analyst Katzinris wrote in a post on Friday that Musk’s move supports the idea that he will try to renegotiate with Twitter or withdraw from the deal altogether.

“If Musk decides to continue the deal, there will probably be a clear renegotiation on the table that will call into question a number of issues (funding path, Tesla stock leverage, former funding partners, employee feedback),” they wrote. “Many will see this as a Musk that uses this Twitter file / spam account as a way out of this highly volatile market.”

Twitter has a history of cracking down on fake, spammy bots, some of which have previously been found to be spreading misinformation and spreading abuse. In the once popular platform, these accounts are now mostly violates company policy Prohibiting “commercially motivated spam”, “fake engagement” means making something seem more popular than “systematic activity” that attempts to manipulate conversations; “systematic harmful activity that encourages or promotes behavior that violates is the rules of Twitter? «

Musk said he wants to buy Twitter to embrace the principles of free speech. he recently said he would do it to restore former President Donald Trump – but to him! crack against spam և bots.

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