Elon Musk’s $44B Twitter Deal ‘Temporarily On Hold’ – CNET

Elon Musk’s $44B deal to buy Twitter is temporarily on hold, the tech entrepreneur tweeted on Friday, alongside a link to a Reuters article about spam accounts. The article reported that Twitter had said in a filing that false or spam accounts represented fewer than 5% of its monetizable daily active users during the first quarter of 2022.

Musk’s announcement sent Twitter share prices tumbling by almost 20% in pre-market trading.

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

This is a breaking news story. More to come…