Tesla boss puts Twitter purchase on hold
Does Elon Musk want to get out of the Twitter deal or cut the price? The Tesla boss has put the planned takeover on hold.
Is the takeover of the short message service Twitter by Tesla boss Elon Musk (50) still bursting? On Friday, the richest person in the world declared via Twitterthat the purchase of 44 billion US dollars (around 42 billion euros) is currently temporarily on hold. The reason: Musk complained that there was no information about alleged fake and spam accounts on Twitter. These would have to account for less than five percent, otherwise the deal might be void.
Immediately after his tweet, Twitter stock plummeted, losing around a quarter in premarket trading. Most recently, the share was only at 36.51 euros. The paper had already lost a lot of value the day before after the first rumors circulated that the deal could still burst. Numerous investors have already jumped out, and the company has not yet commented.
Does Musk want out of the deal completely?
Experts are now puzzling over why Musk is taking this step after the company published the estimated number of “fake users” on Monday. Musk should not have been surprised that fake accounts are also up to mischief on Twitter. On the one hand, it could be a clever move by Musk to push the $44 billion price down yet again, on the other hand, it could be the start of a pullback. A $1 billion fine could put Musk completely off the hook.