Elon Musk on Friday said his deal with microblogging platform Twitter worth $44 billion is put on hold due to the calculation of fake accounts in it.
“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk tweeted.
Still committed to acquisition
— Elon Musk (@elonmusk) May 13, 2022
However, in a recent tweet, he said that Still committed to the acquisition of Twitter.
Media reports said after this announcement Twitter shares fell by 20 percent in early trading.
Musk said earlier this week that Twitter's decision to ban former US President Donald Trump was a mistake and he would reverse it if his acquisition of the social media company is successful.
Twitter recently agrees to be acquired by Musk in a deal worth USD 44 billion, although it is still subject to shareholder approval.