Close X
Tuesday, November 26, 2024
ADVT 
National

Musk puts Twitter deal 'on hold', says still committed to acquisition

Darpan News Desk IANS, 13 May, 2022 10:43 AM
  • Musk puts Twitter deal 'on hold', says still committed to acquisition

San Francisco/New Delhi, May 13 (IANS) 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.

Photo courtesy of Instagram. 

MORE National ARTICLES

Youth in hospital after targeted shooting in Guildford area

Youth in hospital after targeted shooting in Guildford area
 Police were able to locate the man, who was suffering from non-life-threatening injuries at an alternate location in Newton. The 19-year old victim was transported to hospital.

Youth in hospital after targeted shooting in Guildford area

EU regulator advises AstraZeneca's COVID drug be cleared

EU regulator advises AstraZeneca's COVID drug be cleared
The European Medicines Agency said in a statement that it was advising the use of the new drug, sold as Evusheld, in people age 12 and over before they were exposed to COVID-19, to prevent future infections.

EU regulator advises AstraZeneca's COVID drug be cleared

Federal dental plan will reflect NDP vision: Singh

Federal dental plan will reflect NDP vision: Singh
The Liberals promised the NDP they would start to phase in a dental-care program this year as part of a confidence and supply agreement to keep the minority government in power until 2025.

Federal dental plan will reflect NDP vision: Singh

Two of Kenney's caucus members urge him to quit

Two of Kenney's caucus members urge him to quit
Peter Guthrie and Jason Stephan say the party’s late changes were designed to ensure Kenney wins a vote he was destined to lose. Guthrie, the member for Airdrie-Cochrane, says the decision “reeks of desperation” and that it’s time to call an immediate leadership race and find someone else to take the helm.

Two of Kenney's caucus members urge him to quit

Canada to up oil, gas output 300,000 barrels a day

Canada to up oil, gas output 300,000 barrels a day
Wilkinson says Canada is "very open to the discussion" about what else it can do to help, including new natural gas terminals on the East Coast to export Canadian LNG to Europe.

Canada to up oil, gas output 300,000 barrels a day

Port of Vancouver up in 2021 despite challenges

Port of Vancouver up in 2021 despite challenges
The country's largest port says record container and foreign bulk volumes helped maintain cargo volumes despite trade challenges in a year in which the cruise season was cancelled due to COVID-19.

Port of Vancouver up in 2021 despite challenges