Elon Musk said his deal to buy Twitter was “on hold” after the social network reported less than 5 percent of its 226 million profitable daily active users had fake or spam accounts.Tesla CEO offers to buy Twitter for $44 billion, tweets May 2 link Reuters File to report on Twitter.
“Twitter deal on hold pending details in favor of calculating spam/fake accounts does represent less than 5% of users,” Musk tweeted.
The tweet represents the latest speed bump in Musk’s attempt to acquire the social media network. At the time of writing, Twitter’s stock plunged 19% 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 it finally accepted in late April.
Twitter deal on hold pending details to support counting spam/fake accounts do represent less than 5% of users https://t.co/Y2t0QMuuyn
— Elon Musk (@elonmusk) May 13, 2022