August 14, 2022

Musk had agreed a $44 million takeover bid last month

Elon Musk has said his bid to takeover Twitter is “temporarily on hold” over the company’s spam user calculations.

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

The Tesla chief executive had made removing ‘spam bots’ from the platform one of his priorities if his acquisition of Twitter was successful.

In a filing earlier this month, Twitter had said it estimated false or spam accounts made up fewer than 5 percent of its daily active accounts during the first quarter of the year, Reuters reports.

Last month, Musk agreed a $44 billion deal to takeover the social media platform.

He has since sold billions in Tesla shares to help finance the move, and last week secured $7 billion from new investors to pay for the takeover.

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