(AOF) – Elon Musk has offered to buy Twitter for $ 44 billion, on the terms he had initially accepted, according to a document filed with the SEC. Such an offer will allow him to avoid a trial which was to be held from October 17. Twitter said it received a letter from Elon Musk about the offer.
After announcing in late April that he wanted to buy Twitter for $54.20 per share, the Tesla founder then backtracked. Musk had blamed Twitter for its inability to assess the proportion of fake accounts, spam and bot accounts.
Twitter reacted by filing a complaint against the entrepreneur. “Musk is refusing to honor his obligations to Twitter and its shareholders because the agreement he signed no longer serves his personal interests,” the document read.
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The serious European adjustment of the Internet giants
An agreement was reached on March 24 on the supervision of Internet giants, with new legislation on digital markets, the Digital Markets Act (DMA). This text aims to regulate the anti-competitive practices of the main players. With the DMA, the European Commission sets a framework to be respected, the sector now being subject to regulations similar to those of the energy, banking or telecommunications sectors. The scale of fines has also been adapted to the economic power of the players: in the event of an infringement, they may represent 6% to 20% of global turnover. In the event of a repeat offence, business transfers may be imposed. On the other hand, in the United States, the regulatory process has still not succeeded despite the authorities’ determination.