Twitter’s share price fell in Friday’s trading, following American billionaire Elon Musk announced the suspension of the acquisition of the company.
Musk explained the reason for the suspension of the deal, as there are many fake accounts on the site, amounting to regarding 5% of the total number of users of the site, he said.
And Bloomberg News Agency reported that Twitter’s share fell before the start of official trading on the New York Stock Exchange by 20% following Musk’s tweet regarding the suspension of the deal, while the Tesla share of electric cars owned and headed by Musk rose by regarding 5%.
Twitter had stated in a previous report that “the average fake accounts during the first quarter of this year represented less than 5% of the total number of active accounts per month.”
Elon Musk, the world’s richest man, said his proposed takeover of Twitter is temporarily suspended.
Musk tweeted that he was still waiting for details that the fake accounts on the platform were less than 5%.
Last month, Twitter’s board of directors approved a $44 billion offer from the head of Tesla to take over the company.
Informed sources said yesterday that Musk is in talks to collect contributions and financing on special terms to finance his proposed acquisition of the social networking site Twitter, and to forgo a $6.25 billion marginal loan linked to the shares of the electric car maker Tesla owned by him.
And the Bloomberg news agency quoted the sources as saying that the billionaire’s advisers, led by the American investment bank Morgan Stanley, began receiving the wishes of potential investors to participate in the provision of $ 6 billion in contributions and financing on preferential terms.
It is noteworthy that Musk is the richest person in the world, with a fortune of $216.2 billion, according to the Bloomberg Billionaires Index, but most of his wealth is in the form of assets and not liquid funds.
