Tesla CEO Elon Musk’s ‘Twitter deal temporarily on hold’ tweet goes viral soon after he posted it. Elon Musk said he is putting his bid to acquire Twitter (TWTR) on hold. Which happens weeks after agreeing to take the company privately for nearly $44 billion deal. Musk made a strong case on freedom of speech for the people.
However, now his takeover is “temporarily on hold” as the pending details of supporting calculations that spam/fake accounts do indeed represent less than 5 % of users.
In his tweet, the businessman linked to a May 2 Reuters report about Twitter’s most recent disclosure about its spam and fake account problem. Which if 5% according to the very report.
Soon after his comment viral, the business magnate clarified his remarks.
Check his new comment:
Still committed to acquisition
— Elon Musk (@elonmusk) May 13, 2022
Elon Musk agreed to an “all-cash” deal and still has to confirm cash to complete the Twitter acquisition. While various users were in dismay with the takeover, it now appears that Twitter will go through many transactions to land at one owner.