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Elon Musk says ‘Twitter deal temporarily on hold’

Tesla CEO Elon Musk on Saturday said the Twitter deal is temporarily on hold. 

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New Delhi: Tesla CEO Elon Musk on Saturday said the Twitter deal is temporarily on hold due to the calculation of fake accounts in it. Notably, the update on Twitter’s deal came just 14 days after Musk announced to purchase of the social media platform for approximately $44 billion.

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

Owing to this tweet, media reports suggest Twitter’s shares fell by 20 per cent in early trading after this announcement.

Musk said earlier this week that Twitter’s decision to ban former US President Donald Trump was a mistake and he would reverse it if his acquisition of the social media company is successful.

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