Is the Twitter deal about to explode?
The richest man in the world, Elon Musk, published a tweet today that strengthened the hypothesis that the billion-dollar deal for the acquisition of the social network giant was on its way to collapse, and claimed that the calculations presented by the company were incorrect.
In a tweet, Musk wrote that "20 percent of Twitter accounts are fake or spam accounts, four times the five percent claimed by Twitter, and it could be much higher" states the American entrepreneur who went on to state that "my offer to buy the company was based on their claims being true and only Five percent of spam accounts, but yesterday the Twitter CEO refused to bring evidence that only five percent of the accounts are fake.
The deal can therefore not proceed until he brings me proof of his statements. "
This tweet continues the entrepreneur's announcement of the purchase freeze, an announcement from three days ago in which he said that the number of fake accounts on the social network is higher than he thought and that if this is the case then the price he offered to the network is about $ 44 billion.
Musk wrote: "The Twitter business is temporarily frozen until it is proven to me that there are only five percent of fake accounts on the net."
The announcement itself has already caused damage to the company's shares and their depreciation by more than ten percent.
Musk now states for himself, based on an examination by an independent team he set up, that one-fifth of the accounts on the network are fake and that in such a situation its true value is significantly lower than the value it is denominated.
However this is not necessarily a withdrawal from the deal as Musk himself said this week that "a deal at a lower price is still on the agenda", so it may be a strategy of the developer to improve the deal for him.
But the developer went on to point out, as he is quoted on the Bloomberg network, that "the more I ask questions like that I have more doubts about the deal."
However, in the event of a complete withdrawal from the transaction, Musk will have to prove significantly more than five percent of counterfeit accounts and that he was misled by the company otherwise he will have a hard time defending such a withdrawal in court if an understanding has already been signed between the parties.
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