Live
- ‘Get Set, Grow Summit 2024’ Focuses on Digital Detox for Families
- Stokes motivates his team to put in extra effort, says England pacer Potts
- From overcoming setbacks to leading India in U19 Women’s Asia Cup, Niki Prasad's amazing journey
- Driving Enterprise Security: Inside Venkata Reddy Thummala’s Leadership Journey
- Constitution debate: PM Modi hails 'Nari Shakti'; makes strong pitch for 'United Bharat’
- Abhijeet Bhardwaj: Revolutionizing Enterprise Analytics with Innovation and Expertise
- Bihar: Inquiry initiated against principal who went to buy veggies during school hours
- Press Sri Lankan Prez for release of Indian fishermen: TN Cong MP to EAM Jaishankar
- TN: DMK postpones executive meet due to heavy rains & Parliament session
- Porous silicon oxide electrodes can fix durability issues in batteries: Researchers
$44-Billion Twitter Deal on Hold, says Elon Musk
$44-Billion Twitter Deal on Hold, says Elon Musk
The acquisition of Twitter is temporarily on hold.
Elon Musk said on Friday his $44-billion (roughly Rs. 3,40,710 crore) acquisition of Twitter was temporarily on hold, citing pending details on spam and fake accounts.
Shares of the social media company fell 17 percent in premarket trading.
Shares of the social media company fell 20 percent in premarket trading. Twitter did not immediately respond to a request for comment.
The company had earlier this month estimated that false or spam accounts represented fewer than 5 percent of its monetisable daily active users during the first quarter.
It also said it faced several risks until the deal with Musk is closed, including whether advertisers would continue to spend on Twitter.
Musk, the world's richest man and the chief executive of Tesla, had said that one of his priorities would be to remove "spam bots" from the platform.
(Except for the headline, this story has not been edited by The Hans India staff and is published from a syndicated feed.)
