Elon Musk withdraws the 44 billion offer to buy Twitter . In the letter that his lawyer sent to the legal department of the company, it is stated that the social media "did not respect contractual obligations and did not provide the requested information". Immediate reply and announcement of wanting to sue Tesla's patron.
The so-called straw that broke the camel's back was the data provided by Twitter on spam accounts which, according to Musk and his entourage, were not verifiable. The figures had been asked for some time but the board of directors had agreed to communicate them only a month ago in an attempt to overcome the impasse and start the agreement towards closure, with the vote of the shareholders on the acquisition expected at the beginning of August.
Twitter had also agreed to grant the billionaire access to his entire "firehose", which is the huge amount of data that also includes the more than 500 million tweets posted every day. The social media has been reiterating for some time that spam or fake accounts are 5% of the total, while Musk is convinced that they are many more. Evidently something went wrong and the founder of Space X decided to screw it up. Meanwhile, Twitter shares plummeted 9% in post-close trading.
(Unioneonline / ss)
