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5/17, 9:38 AM (Source: TeleTrader)
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Musk: Twitter deal dead without proof of spam account numbers

Billionaire Elon Musk stated on Tuesday that Twitter Inc. needs to provide him with accurate numbers of the spam and fake accounts on the social network in order for the takeover deal to go through.

"Yesterday, Twitter's CEO publicly refused to show proof of <5%. This deal cannot move forward until he does, Musk tweeted.

He added that his $44 billion takeover bid was based on a presumption that Twitter's filings to the United States Securities and Exchange Commission (SEC) were accurate, and estimated that the participation of fake and spam accounts in the users' figures is "much higher" than 20%.

Baha Breaking News (BBN) / BU