What factors put Elon Musk's takeover of Twitter on hold?  |  Elon MuskTwitter

What factors put Elon Musk’s takeover of Twitter on hold? | Elon MuskTwitter

On Monday April 25, Tesla CEO Elon Musk tweeted that he wanted to buy the social network Twitter, which caused a media outcry. The objective of this acquisition project is to reintegrate the freedom of expression which seems to be in decline on this popular social network.

There are also spam bots that he aims to reduce as well as the eradication of fake profiles. A few weeks after the announcement, the sale is not yet confirmed and it is normal to know if the purchase process is still in progress. Here are some explanations.

The crazy $44 billion is the proposal made by the president of Tesla to buy back shares of Twitter. The success of transactions is largely conditioned by the percentage of spam bots and fake users present on the platform. Parag Agrawal, CEO of Twitter, says it’s a figure that does not exceed 5%, which does not reassure Elon Musk.

Indeed, the latter believes that given the number of Internet users present on the network, this statistic is biased, which affects the quality of the product. In this specific case, an external audit must be carried out to satisfy the buyer. On the other hand, to avoid the leak of internal information, the current leader of Twitter is against this process. The latter also expressed it clearly and precisely on his Twitter account.

Elon Musk’s response was not long in coming. On May 16, he responded with the “poop” emoji to question the claims. In another post from May 17, the owner of SpaceX notified that there are up to 20% spam bots. Which corresponds to 4 times the figure published by Parag Agrawal and 50% fake users. These are all disputes that have slowed down the signing of the contract between the two parties.

Is Elon Musk still interested in buying Twitter?

According to his May 17 tweet, Elon Musk claims that the tender offer is based on an accuracy of Twitter’s reports to the SEC. Faced with the refusal of the leaders of the platform at the blue bird to expose the proof of the estimates, Elon clearly says that he does not want to move forward in the transactions.

The purchase is therefore pending. It should be noted that this one always remains interested by the network which counts more than 216 million Net surfers. It is still awaiting more reliable results which show that Twitter remains a safe place for everyone to interact.

What are the consequences of putting the purchase on hold?

On the side of Twitter, the repercussions are numerous. These include the cessation of hiring at the level of certain positions deemed unnecessary. Recruitment will start again after the signing of the sales agreement. It is also necessary to notify the departure of two leaders of the social network.

On the side of Elon Musk, there are no major concerns. However, there is the sale clause which stipulates that he must pay a sum of one billion dollars in the event of definitive abandonment. As soon as the operation is effective, you will again witness a transparency of exchanges and a banishment of spam on Twitter.

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