Categories: Tech

Elon Musk: Twitter acquisition is “on hiatus”

Elon Musk pauses the Twitter acquisitionafter offering 44 billion dollars to buy it. According to the tycoon, you must first check that the fake accounts are less than 5% as explained by the social. But it is shareholder skepticism about Musk’s intentions collapses the stock on the stock market: could the agreement be blown?

Elon Musk pauses the Twitter acquisition

Little fa Elon Musk has tweeted its intention to halt the Twitter takeover process. Tesla CEO wrote: “The Twitter deal is temporarily on hold after verifying that it supports the calculation of spam / fake accounts really represent less than 5% of users“. Musk then linked to a Reuters article explaining how Twitter reported that bogus accounts account for less than one-twentieth of users on the platform.

News of the temporary freeze on the acquisition sent Twitter’s share price plummeting, -20% in less than an hour.

Musk did not detailed the own floor once acquired Twitter. But one of the details she insisted on is the identity check to prevent them from being account fasulli and bot son the platform.

However, many analysts on Wall Street reacted by selling the company’s stock, expressing skepticism about Musk’s true intentions. Indeed some investors suspect that the value of $ 54.20 per share is too high for Musk, with the company’s shares never reaching $ 50 this year. In addition, several analysts have explained that having put the its stakes in Tesla is too much risk for Musk, who may now want to back out.

Understanding Musk’s plans right now is complicated. But if until yesterday the agreement to buy Twitter seemed like a done deal, now it is up a huge uncertainty about the whole deal. It is difficult to understand if this pause can turn into something more. We will keep you informed.

Source

The Washington Post

Published by
Walker Ronnie

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