Musk has suspended a deal to buy Twitter. What is the reason

The head of Tesla and SpaceX, Elon Musk, temporarily suspended the deal to buy Twitter. The billionaire himself announced this on a social network on May 13, 2022. We tell you what caused this decision.

"The deal with Twitter has been temporarily suspended pending details that may confirm previous estimates that spam/fake accounts do account for less than 5% of microblogging users," Musk said in a statement.

After this statement, Twitter shares in the stock market fell by 11%, while Tesla securities rose by almost 5%.

UPD. Later, Musk published a new post in which he assured that he "still intends to acquire" the company.

Still committed to acquisition

— Elon Musk (@elonmusk) May 13, 2022

On May 2, Twitter Inc announced its own estimates that fake or spam accounts accounted for less than 5% of daily active users who can be monetized in the first quarter of 2022.

The disclosure of this information came a few days after Musk said that one of his priorities would be to remove "spambots" from the platform.

Twitter also said in a statement that by the time the deal with Musk closed, the company was facing several risks, such as whether advertisers would continue to spend on Twitter, as well as "potential uncertainty about our future plans and strategy."

Recall that on April 25, Elon Musk acquired Twitter for Twitter 44 billion.

Musk offered to buy Twitter for квітня 54.20 a share on April 14. The offer comes after Musk announced the acquisition of a 9.2% stake, making him Twitter's largest individual shareholder at the time.

Later it became known that the social network Twitter may soon become paid for users of the corporate segment and government agencies.