Twitter deal temporarily on hold, says Elon Musk

NEW DELHI: Tesla chief Elon Musk on Friday said that his $44 billion Twitter deal is temporarily on hold due to pending details on spam and fake accounts.
In a tweet, Musk said: “Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users.”
Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent… https://t.co/Cx5mfKtKVi— Elon Musk (@elonmusk) 1652435078000
In a filing 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.
The disclosure had come days after Musk’s tweet said that one of his priorities would be to remove “spam bots” from the platform.

Twitter had said in the filing that it faced several risks until the deal with Musk is closed, such as whether advertisers would continue to spend on Twitter and “potential uncertainty regarding our future plans and strategy.”