Twitter Deal Temporarily On Hold, Elon Musk Announces


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The Billionaire founder of Tesla Inc, Elon Musk, has announced that his $44 billion deal for micro-blogging and social media platform, Twitter, is temporarily on hold.

Musk who made the announcement on Friday via his Twitter handle, cited pending details on spam and fake accounts as the reason behind the temporary suspension.

TheFact Nigeria gathered that Musk, who has been vocal about fake accounts initially offered to buy the social media company at $43billion, before agreeing to pay $44billion. He also received support of over $7.1billion from investors and friends to help with the acquisition of Twitter.

The world’s richest man’s decision to buy Twitter was geared towards promoting free speech.

The 50 year old on Wednesday said he would be open to lifting a ban on former president Donald Trump imposed after the attack on the US Capitol on January 6, 2021.

However, activists groups had urged advertisers to boycott the platform if Musk opened the gates to abusive and misinformative posts.

“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk tweeted.


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