Elon Musk backs out of Twitter takeover

Thunderbolt on the world of social networks. American billionaire Elon Musk has decided to put an end to his plan to take over the Twitter platform. In a letter published by the American stock market policeman, his lawyers assure that Twitter has not respected the commitments made in the agreement, by not giving all the information requested on the number of fake accounts and spam.

Elon Musk, who was to acquire the social network for 44 billion dollars (more than 43 billion euros), has repeatedly questioned the data transmitted by Twitter on spam, fake accounts and the means used. place to limit its proliferation.

Read also: Twitter: who are its users?

Towards legal proceedings?

In early June, the group’s board of directors agreed to allow Elon Musk access to the mountains of data needed to answer his questions on this subject, after the businessman threatened, in a document official, to withdraw his offer. So the world’s richest man and his team set out to analyze this raw data to determine if the percentage of fake accounts actually represents less than 5% of Twitter’s daily active users, as claimed by the network.

By terminating his commitment to buy Twitter, Elon Musk exposes himself to substantial legal proceedings. Both parties have agreed to pay a severance fee of up to $1 billion in certain circumstances.

Read also: Elon Musk in the sights of the American stock market policeman

The World with AFP

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