Musk’s renounces the purchase of Twitter: “I want to cancel the 44 billion deal”
Sci-Tech

Musk’s renounces the purchase of Twitter: “I want to cancel the 44 billion deal”

Elon Musk will not buy Twitter. The Tesla founder – after weeks of announcements, provocations and tensions – told Twitter his intention to cancel the agreement reached with the social network for a purchase whose price was set at 44 billion dollars. The Sec, the US Consob, communicated the renunciation of the purchase.

According to Musk, Twitter has not provided him with sufficient reassurance about the number of fake accounts on the platform, which – according to him – “appears to have provided false and misleading information.”

Twitter – wrote Musk – would have a number of bogus accounts “far higher” than the 5% communicated to him by the company.

The agreement between Twitter and Musk was signed in April. From the beginning, the extremely low penalty set by Musk to be able to give up the purchase (1 billion) had made several analysts suspicious.

The platform announced it would be filing a lawsuit against Musk to make him complete the purchase, and said it was confident it could win.