Elon Musk puts $44 billion Twitter takeover on hold

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The purchase of Twitter by Elon Musk has been put on hold for the time being. The transaction has been put on hold pending details supporting the calculation that spam/fake accounts represent for less than 5% of users, according to Tesla CEO Elon Musk. On April 25, the world’s richest man signed a $44 billion deal to buy Twitter and announced his aspirations for the social media giant.

Musk describes himself as a “free speech absolutist.” The latest declaration comes only days after Elon Musk wrote that one of his top priorities for Twitter was to get rid of “spam bots.” Following Musk’s announcement that the Twitter deal would be put on hold, shares of the microblogging platform fell 11% pre-market, while Tesla stock rose 4.9 percent.

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