Elon Musk pauses Twitter takeover after reporting spam accounts | NOW

Billionaire Elon Musk has put the Twitter takeover “temporarily on hold”, he writes in a tweet. He did that after news agency Reuters recently wrote a post about the number of spam accounts on the platform. It found that 5 percent of the 226 million daily Twitter users are fake and spam accounts.

“I am now waiting for more information to support calculations that the number of spam accounts and fake accounts does indeed make up less than 5 percent of users,” Musk wrote Friday. The Tesla director did not give more details. He later added a new tweet: “Still planning to go through with the acquisition”.

At the end of April, it was announced that Twitter had agreed to the acquisition of the platform by Musk. The billionaire is willing to pay 44 billion dollars (more than 42 billion euros) for it. In the takeover message, Musk wrote that he wants to reduce the number of bot accounts on Twitter, among other things.

According to him, the potential of Twitter is not yet being used. Musk believes that Twitter in its current form cannot serve society’s purpose of being a platform for free speech.

Twitter’s share price fell 20 percent after Musk announced the hiatus.