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Hours after saying that the Twitter deal is "temporarily" on hold, Tesla CEO Elon Musk on Friday, 13 May, tweeted that he is still committed to the acquisition.
"Twitter deal is temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users," he had tweeted earlier.
Twitter shares fell 22 percent in pre-market trade after Musk's tweet, Reuters reported.
Twitter estimated in a filing that false or spam accounts represented fewer than 5 percent of its monetisable daily active users during the first quarter of 2022.
Twitter, on 25 April, finally agreed to sell itself to Tesla CEO Elon Musk for $54.20 per share, putting an end to weeks of uncertainty. The deal was slated to close sometime this year, subject to conditions including regulatory approval and a nod from shareholders.
(This is a developing story.)
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