Elon Musk Complains That Twitter is Violating Takeover Agreements
Elon Musk believes that Twitter is violating the agreements surrounding the takeover of the social media company by not providing him with certain information about spam and fake accounts.
This is stated in a new document that the well-known entrepreneur has filed with the US stock market regulator SEC. In it, Musk also emphasizes that he still has the right to opt-out of the takeover of Twitter.
The world’s richest man has already reached an agreement with Twitter on the multi-billion dollar takeover but caused a surprise last month by putting the deal on hold. He did this because he wants more clarity about the share of fake accounts on the messaging service.
Musk wants Twitter to prove to him that less than 5 percent of all Twitter users are bots, as the Twitter board claims. That the company has still not complied with his request could only be interpreted as an attempt to thwart Musk and cover up the issue, the businessman also says.
Investors are shocked by the news. Shares of Twitter lost more than 4 percent on Monday shortly after the opening bell on Wall Street. Due to the uncertainty surrounding the takeover deal and the turmoil in the stock markets, the share price of Twitter has already fallen considerably last month.