London (CNN Business)Elon Musk said he is putting his bid to acquire Twitter  (TWTR )  on hold, weeks after agreeing to take the company private in a

Elon Musk says his deal to buy Twitter is on hold

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2022-05-13 12:00:15

London (CNN Business)Elon Musk said he is putting his bid to acquire Twitter (TWTR ) on hold, weeks after agreeing to take the company private in a $44 billion deal.

London (CNN Business)Elon Musk said he is putting his bid to acquire Twitter (TWTR ) on hold, weeks after agreeing to take the company private in a $44 billion deal. "Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users," Musk tweeted on Friday. The news initially sent Twitter shares down more than 13% in premarket trading. In his tweet, Musk linked to a May 2 Reuters report about Twitter's most recent disclosure about its spam and fake account problem.In its quarterly financial report, released on April 28, Twitter estimated that fake or spam accounts made up fewer than 5% of the platform's active users during the first three months of the year. Twitter

London (CNN Business)Elon Musk said he is putting his bid to acquire Twitter (TWTR ) on hold, weeks after agreeing to take the company private in a $44 billion deal.

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