Elon Musk announced on Friday that he was postponing his $44 billion acquisition of Twitter Inc (NYSE: TWTR) until he received more information about spam and fake accounts.
In a tweet, he said, “Twitter deal temporarily on hold pending details supporting the calculation that spam/fake accounts really do make up less than 5% of users.”
In trading, before the market opened, shares of the social media company fell by 17 %.
