The company said the deal is subject to approval by Twitter shareholders, and is expected to expire this year.
The company’s statement comes a day following Tesla CEO Musk announced that his acquisition of Twitter will not be completed until he obtains assurances that only less than five percent of the platform’s accounts are fake.
“The CEO of Twitter refused yesterday to prove that less than 5% of the accounts are fake,” Musk, who has regarding 94 million Twitter accounts, tweeted.
In his tweet, Musk refers to the explanations provided by Twitter CEO, Parag Aragwal, regarding the measures taken by the company to combat spam and fake accounts.
On Monday, Aragwal tweeted: “Let me make the first of what is certain: Spam harms the actual Twitter experience and can subsequently harm our company,” adding that the social network “strongly encourages the detection and removal of as much spam as possible,” and Everyone who says otherwise is simply wrong.”
He stressed that the company suspends daily more than half a million fake accounts, and weekly several million users who do not follow certain verification procedures, pointing to the difficulties that Twitter administrators sometimes face in distinguishing legitimate accounts from fake ones.
Twitter reports that the proportion of fake accounts is well under 5%.
