Elon Musk says Twitter deal 'temporarily on hold'
ABC News
Elon Musk says his planned $44 billion purchase of Twitter is “temporarily on hold” pending details on spam and fake accounts on the social media platform
LONDON -- Elon Musk said Friday that his planned $44 billion purchase of Twitter is “temporarily on hold” pending details on spam and fake accounts on the social media platform.
The announcement that the Tesla billionaire tweeted is another twist amid signs of internal turmoil over his planned buyout of Twitter, including that the social media company fired two of its top managers Thursday.
It wasn’t clear whether the fake account issue could scuttle the Twitter deal. Stock in both Twitter and Tesla swung sharply in opposite directions, with Twitter’s stock tumbling 18% and Tesla, which Musk had proposed using to help fund the Twitter deal, jumped 5%.
Investors have had to weigh legal troubles for Musk, as well as the possibility that acquiring Twitter could be a distraction from running the world’s most valuable automaker.
