Elon Musk has said his planned $44bn takeover of Twitter is on hold amid concerns about the number of fake or spam accounts on the site.
The billionaire wrote in a tweet: “Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5pc of users.”
Read Also: “I Do Think That It Was Not Correct To Ban Donald Trump” – Elon Musk Says He Would Reverse Twitter’s Ban on Former President
Shares in Twitter dropped 11pc in pre-market trading.
Read Also: “If I Die Under Mysterious Circumstances, It’s Been Nice Knowin Ya” – Elon Musk Says He’s Ok With Going To Hell Amid Russian Threats
There’s been growing worries among investors that the Tesla founder’s bid for Twitter wouldn’t go through due to the significant financial and political exposure linked to the deal.
Photo Credit: Getty
