Remember when Elon Musk announced he was buying Twitter and that bombshell then rang on the social network for days on end? Well, today is another interesting day in this saga, like Musk revealed that the agreement is “temporarily suspended”, pending “details to support the calculation that spam / fake accounts actually represent less than 5% of users”.
If you’re confused about what he’s talking about, a Reuters report came out earlier this month stating that Twitter itself estimates that spam and fake accounts comprise less than 5% of users. Now, however, Musk seems unconvinced that he is alone 5% of users.
Of course, if a much higher percentage of Twitter users are spam bots and fakes, the company’s value to a buyer would decrease, in which case let’s assume Musk is offering less than the $ 44 billion he’s already agreed to pay. It’s unclear what exactly is going on, but unsurprisingly the news led to a slump in Twitter’s share price.
For what it’s worth, Musk says yes still busy see the takeover go through, so this probably amounts to a late stage negotiation tactic. We will let you know what takes place.
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