Elon Musk tweeted on Friday that he has put Twitter’s $44 billion take-private deal “on hold” pending details to support a calculation in which spam and fake accounts account for less than 5 percent of users .
Musk made his remarks on the microblogging site, including a Reuters report on the number of spam accounts.
It is unclear what the legal effect of his notice will be.
Twitter shares fell 19% in premarket trading in New York.
Twitter deal on hold pending details to support counting spam/fake accounts do represent less than 5% of usershttps://t.co/Y2t0QMuuyn
— Elon Musk (@elonmusk) May 13, 2022
Musk this week Tell The Financial Times said he would restore former US President Donald Trump’s Twitter account, saying he believed the ban on him was “morally wrong”.
The story Musk linked to is based on data released on May 2 showing the number of fake accounts. Musk has said reducing the number of such accounts will be a key goal of his owning the platform.
There are no new documents on the SEC website explaining Musk’s comments Friday morning.