Musk says the $44 billion deal with Twitter is on hold.

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 %.

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