Recently, the billionaire refused to buy the social network, despite a preliminary agreement with its owners.
Shares of the popular American social network Twitter fell 11% after it became known about the failure of the deal to sell it to billionaire Elon Musk. This is reported CNBC.
According to the source, the shares of the social network fell by 11%, which automatically cheapened the company’s market value by almost $2.2 billion. At the same time, Tesla Musk lost more than 6.5%.
On July 7, it became known that Twitter acquisition deal by Elon Musk “under serious threat” because his team believes that it is impossible to confirm the data on the number of fake and spam accounts on Twitter, so negotiations to acquire the social network no longer make sense.
Musk demanded a check on the number of spam accounts after Twitter shares began to fall. In May, he stated that understanding the number of fake accounts is part of Twitter’s business valuationwho makes most of his money selling ads. Despite the billionaire’s words about the possibility of acquiring the social network at a lower price, the current owners of Twitter said they did not intend to make a “discount”. Since then, the company has provided Musk’s analysts with a wealth of data.
After the inventor’s final refusal to conclude an agreement, Twitter management announced that intends to sue Musk in court for termination of the deal buying a social network.
