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Elon Musk announces Twitter takeover bid is ‘on hold’

Fri May 13, 2022 – 9:17 am EDTFri May 13, 2022 – 10:06 am EDT

(LifeSiteNews) – Billionaire tech guru has postponed his multi-billion dollar deal to buy , apparently owing to the estimated number of spam accounts held on the platform.

Today the Tesla CEO announced to his 92 million Twitter followers that the $44 billion deal is “temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users.”

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

Twitter stock tumbled following Musk’s announcement, with shares in the company dropping by almost 25 percent in pre-market trading. Tesla shares, however, experienced a 7 percent leap in value.

Musk linked to a Reuters article reporting that false Twitter

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