PostedJuly 8, 2022, 00:35
According to the “Washington Post”, Elon Musk is seriously considering buying the social network Twitter, because of concerns regarding spam.
Elon Musk has repeatedly questioned the data transmitted by Twitter on spam and fake accounts and the means put in place to limit their proliferation. (illustrative image)
AFP
Twitter’s stock lost ground on Thursday following the publication of an article by the “Washington Post” according to which the takeover of the social network by Elon Musk would be seriously compromised, because of the concerns of the multi-billionaire regarding spam.
The Tesla and SpaceX boss’s team has reportedly halted negotiations with one of the investors supposed to contribute to the acquisition of Twitter for $44 billion. “Now that Musk’s team has come to the conclusion that Twitter’s figures on fake accounts were not verifiable, they should take drastic measures, said one of the sources” close to the matter, details the daily American.
On Wall Street, the title of the Californian company lost more than 4% during electronic trading following the close of trading, following a session up slightly (+1.52%). Elon Musk has repeatedly questioned the data transmitted by Twitter on spam and fake accounts and the means put in place to limit their proliferation.
Legal proceedings
In early June, the group’s board of directors agreed to give Elon Musk access to the mountains of data needed to answer his questions on this subject, following the businessman threatened, in an official document, to withdraw his offer.
So the world’s richest man and his team set out to analyze this raw data to determine if the percentage of fake accounts actually represents less than 5% of Twitter’s daily active users, as claimed by the network.
“At this stage, with an offer at $54.20 per share and a stock around $39, the market is clearly skeptical regarding the chances that the transaction will take place at the expected price,” noted Dan Ives of Wedbush in a statement. note. “We believe the odds of the deal happening are currently around 60%, with a renegotiated price in the range of $42 to $45 per share,” he added.
If ever Elon Musk terminates his commitment to buy Twitter, he exposes himself to substantial legal proceedings. Both parties have pledged to pay severance pay of up to $1 billion in certain circumstances.
(AFP)
