Elon Musk state Twitter deal 'temporarily on hold' over report about fake accounts
On March 9, 2020, Elon Musk talks at the Satellite 2020 Conference in Washington, DC.
The Twitter purchase has yet another twist.
Over an allegation of false accounts on the network, Elon Musk announced early Friday
that his ambition to purchase the social media giant was "temporarily on pause."
Based on Musk's post, it was unclear whether any official procedures had been made to block the transaction.
which was finalized in late April at a cost of almost $44 billion.
Twitter's stock price-based worth has fallen in recent weeks, resulting in a larger slide in tech companies.
Twitter has over 229 million daily active users.
Though the acquisition has not yet been completed — big firm acquisitions often take months or even years to complete —
Twitter has already begun to undergo significant adjustments. Twitter fired two executives and put a recruiting restriction in place on Thursday.
Musk's plan to acquire Twitter contained a $1 billion fee if he decided to back out.
Musk's statement on Friday adds another chapter to an already long story.