Elon Musk finally drops his takeover plan Twitterciting the misleading information that the social network would have communicated to him as to his number of fake accounts.
We felt that Elon Musk was blocking on the question of the percentage of fake accounts announced by Twitter… we learned this evening from BFM TV that the billionaire finally chose to abandon his plan to acquire the social network, despite the relatively positive signals issued by its board of directors in June. On the sidelines of the VivaTech show, the microblogging platform thus claimed to have “ intention to close the transaction “. The latter will ultimately not take place.
Evasion or wise decision?
Clearly, Elon Musk believes that Twitter has simply not respected the commitments made in the initial agreement, signed in the spring. The boss of Tesla considers that the company provided him with information ” false and misleading “, refusing to transmit objective data as to its proportion of false accounts – proportion estimated at 5% by the service. Central information to gauge the value of the group… and determine the amount of its buyout.
As pointed out BFM, Elon Musk risks losing a few feathers in the case. By abandoning the takeover of Twitter, the interested party exposes himself to legal action and could be forced to pay compensation to the social network. Twitter has already announced that it is taking legal action against the businessman.
Source : BFM TV
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