Musk puts $44 billion Twitter deal on hold

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.

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.

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