Elon Musk suspends Twitter takeover after spam account reports

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Billionaire Elon Musk has put the takeover of Twitter “on hold,” he wrote in a tweet. He did it after the news agency Reuters recently wrote an article about the number of spam accounts on the platform. He revealed that 5% of Twitter’s 226 million daily users are fake and spam accounts.

“I now await more information to support the calculations that the number of spam and fake accounts does indeed represent less than 5% of users,” Musk wrote on Friday. The Tesla chief did not give further details.

At the end of April, it was announced that Twitter had agreed to Musk’s takeover of the platform. The billionaire is ready to pay 44 billion dollars (more than 42 billion euros) for this. In the takeover post, Musk wrote that he wanted to reduce the number of bot accounts on Twitter, among other things.

According to him, the potential of Twitter is not yet exploited. Musk thinks Twitter in its current form cannot serve the company’s purpose of being a platform for free speech.

Twitter’s share price fell 20% after Musk announced the hiatus.

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