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Twitter deal temporarily suspended, says Elon Musk


Billionaire Elon Musk has said the deal to acquire Twitter has been temporarily put on hold. Musk had submitted a $44 billion bid to acquire the social media platform.

“The Twitter agreement is temporarily suspended pending details supporting the calculation that spam/fake accounts indeed represent less than 5% of users,” Musk tweeted Friday, May 13.

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Musk’s offer to buy Twitter sent shockwaves through the tech and business worlds. It was feared that under Musk, Twitter was assuming a “right-of-center” political orientation. Musk himself is known for his off-the-cuff tweets. He recently said he would consider restoring former US President Donald Trump’s suspended Twitter account.

Donald Trump’s Twitter account was suspended after the January 6, 2021 Capitol riots instigated by his supporters.

Reuters reported that Twitter did not immediately respond to Musk’s new announcement.

Earlier this month, Twitter estimated that fake accounts or spam accounted for less than 5% of its monetizable daily active users in the first quarter.

He also said he faces several risks leading up to the deal with Musk, including whether advertisers continue to spend on Twitter.

Musk, the world’s richest man and chief executive of Tesla Inc, said one of his priorities would be to remove “spam bots” from the platform.

(With agency contributions)

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