Elon Musk says 3 issues need to be resolved before Twitter deal closes


In this photo illustration, Twitter account of Elon Musk is seen on a smartphone screen and Twitter logo in the background.

Pavlo Gonchar | Lightrocket | Getty Images

Elon Musk says there are three main hurdles to overcome before he can complete his purchase of Twitter.

Musk is seeking to buy Twitter for $44 billion, a mega acquisition with huge implications for the social media world — not least given the Tesla and SpaceX CEO’s contentious stance on content moderation and freedom of speech.

But the fate of the deal has become more uncertain in recent weeks after Musk threatened to walk away, citing concerns over the number of fake accounts on the platform. The billionaire could face a $1 billion breakup fee and possibly even lawsuits if he were to abandon the deal.

Speaking at an event hosted by Bloomberg on Tuesday, Musk said there were a number of “unresolved matters” that will need settling before he can move forward with the takeover.

1. Fake accounts

Musk has made no secret of his concerns about the number of fake accounts on Twitter. Attempts to manipulate social media platforms with fake accounts and bots aren’t exactly new, but Musk says he wants more clarity from Twitter on how many of its users are genuine.

Public disclosures from Twitter place the number of false or spam accounts at less than 5% of its “monetizable” daily active users. Musk is doubtful. On Tuesday, he said it’s “probably not most people’s experience when using Twitter.”

“We’re still awaiting a resolution on that matter, and that is a very significant matter,” he said.

Last week, Bret Taylor, Twitter’s independent board chair, said company management remained “committed to the transaction under the agreed upon terms.”

2. Debt financing

3. Shareholder approval



Source link

Denial of responsibility! galaxyconcerns is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave A Reply

Your email address will not be published.