Elon Musk says on Twitter deal on hold, adds a ‘committed to’ tweet hours later

Tesla CEO Elon Musk had recently said that one of his priorities would be to remove "spam bots" from the platform.

Updated on: May 13, 2022, 17:53:47 IST

By HT News Desk

Prefer HTon Google

Share via

Copy link

Elon Musk on Friday said his deal with microblogging platform Twitter worth $44 billion was temporarily on hold. The Tesla chief executive officer said the deal was put on hold pending details supporting calculation that spam and fake accounts indeed represented less than five per cent of users.

A little more than an hour later, Musk wrote another tweet tagging the post stating he was committed to acquisition.

Last month, Musk had clinched a deal to buy Twitter Inc for $44 billion cash in a transaction. Musk, the world's richest man, had recently said that one of his priorities would be to remove "spam bots" from the platform.

The company had earlier this month estimated that false or spam accounts represented fewer than 5 per cent of its monetisable daily active users during the first quarter.

According reports, stock in both Twitter and Tesla swung sharply in opposite directions, with Twitter’s stock tumbling 18 per cent and Tesla, which Musk had proposed using to help fund the Twitter deal, jumped 5 per cent.

(With agency inputs)

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

Get the latest World News, breaking headlines and global updates from the US, UK, Pakistan, Bangladesh, Russia and other countries. Follow major international events on Hindustan Times.