Elon Musk said his deal to buy Twitter was “on hold” pending more statistical details. Because the social network reports that of its 226 million profitable daily active users, fake or spam accounts account for less than 5 percent. The Tesla CEO, who offered to buy Twitter for $44 billion, posted a link on Twitter to a May 2 Reuters report on Twitter.
“The Twitter deal is on hold pending the details of the calculations that support spam/fake accounts that really only account for less than 5% of users,” Musk wrote on Twitter. The tweet represents the latest hurdle in Musk’s merger with social media network Twitter.
Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of usershttps://t.co/Y2t0QMuuyn
— Elon Musk (@elonmusk) May 13, 2022
Shares of Twitter had plunged 19% at press time on news that the deal had been put on hold. The company initially announced a so-called “poison pill” measure to prevent a takeover, which was eventually accepted at the end of April.