May 13, 2022
1 min read

Musk’s Twitter deal on hold

Musk has signed a $44 billion deal to take over Twitter, of which he will pay $21 billion from his own pocket while the rest will come as a loan from a consortium of banks….reports Asian Lite News

After saying that he is putting $44 billion Twitter deal on hold till he gets to know how many fake or spam accounts are present on the platform, Tesla CEO Elon Musk on Friday said that he is still commited to the $44 billion acquisition.

“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5 per cent of users,” Musk said in a tweet to his over 92 million followers.

Twitter’s share price plunged on the news of the deal being put on hold.

He later tweeted: “Still committed to acquisition”.

His followers blasted the tweet, saying he has disturbed the platform, “pushing senior staff to resign and through doubts on its users”.

“If Twitter collapses, it is on you,” said one of his followers.

“Do something for actual people instead of buying Twitter,” another posted.

Twitter estimated in a filing earlier this week that false or spam accounts represented fewer than 5 per cent of its monetisable daily active users during the first quarter.

The micro-blogging platform had 229 million users in the first quarter.

Musk has signed a $44 billion deal to take over Twitter, of which he will pay $21 billion from his own pocket while the rest will come as a loan from a consortium of banks.

ALSO READ: Will reverse Twitter ban on Trump: Musk

Previous Story

Passenger with no flying experience lands plane safely after pilot collapses

Next Story

P&G announces new commitments toward advancing Equality & Inclusion

Latest from -Top News

Hariri Mulls Political Comeback 

Hariri, who previously served multiple terms as prime minister, had stepped away from politics citing “Iranian influence” and institutional collapse. ..reports Asian Lite News Former Lebanese Prime Minister Saad Hariri declared that he

Hamas Hints Shift in Stance   

Informed sources reveal that Hamas won’t govern Gaza in the next phase   An informed source on the ceasefire negotiations in Gaza stated that Hamas has confirmed it won’t participate in governing the

Zelensky: Working with Trump Team on Russia

The much anticipated Ukraine peace talks between Trump and Putin are expected to be held in Saudi Arabia soon…..reports Asian Lite News Ukrainian President Volodymyr Zelensky announced that we have begun collaborating

Land Bill Stalls, Nepal in Crisis

The high political drama in the Himalayan Kingdom has got intense as the government led by K P Sharma Oli lacks the numbers in the National Assembly to get ordinances accepted….reports Asian
Go toTop

Don't Miss

Musk’s Jet Tracker Jack Sweeney Featured in Forbes’ 30 Under 30

According to Sweeney, the acknowledgement is one of the many

Musk’s master plan for cheaper internet

The satellite broadband company will double the internet speed to