Elon Musk has suspended a deal to buy Twitter

Elon Musk suspended the process of buying Twitter after the media reported an overestimation of the audience of the social network.

"The deal with Twitter has been temporarily suspended pending the results confirming the data according to which spam/fake accounts really make up less than 5% of users," he wrote.

May 13, 2022 | 11:54
Update: According to Musk, he is still set to acquire Twitter.

Earlier, Reuters, citing a report from the social network, reported that fake or spam accounts "accounted for at least 5% of its monetized daily active users." According to the media, 229 million accounts were advertised during the reporting period.

Twitter shares reacted to the entrepreneur's decision by falling. The current price on the premarket is $45.08.

Data: Google Finance.
In early April, Musk became Twitter's largest shareholder after acquiring a 9.2% stake for $2.89 billion.

On April 14, he offered to buy the social network for more than $43 billion. The entrepreneur explained this by the intention to create an "inclusive arena for freedom of speech", and not by the desire to make money.

Initially, Twitter's management did not appreciate the offer and approved a takeover protection plan. However, it later revised its position.

Recall that on April 25, the board approved the sale of the company to Musk for $ 44 billion. The billionaire called the victory over spam bots one of his goals.