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Elon Musk says Twitter deal on hold ‘temporarily’

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San Francisco: Tesla CEO Elon Musk who had recently finalised a deal to acquire 100 per cent stakes in social media company Twitter has said that the deal has been put on hold temporarily.

“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” he tweeted.

Twitter Inc’s filing on Monday estimated that false or spam accounts represented fewer than 5 per cent of its monetisable daily active users during the first quarter.

While finalising the deal for the takeover of Twitter for $44 billion, Elon Musk had said that one of his priorities would be to remove spam bots from the micro-blogging site.

Following the tweet on Friday, Twitter’s stock dropped by more than 19 per cent.

 

 

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