Why Musk threatens to cancel Twitter deal!

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An image of Elon Musk is seen on smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. REUTERS/Dado Ruvic/Illustration
An image of Elon Musk is seen on smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. REUTERS/Dado Ruvic/Illustration

BILLIONAIRE Elon Musk has threatened to cancel his R690 billion deal to acquire Twitter.

On Monday, 6 June, the world’s richest man reportedly tabled an ultimatum to the company, asking it to provide him with data on spam and fake accounts.

According to Reuters, Musk’s lawyers reiterated his request to have the details on the accounts, and said he had the right to terminate the contract.

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On 22 May, Musk took to Twitter to announce that the deal was temporarily on hold pending details on spam and fake accounts.

“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk tweeted at the time.

In a statement, the company responded to Musk, stating that it would comply with his request.

“Twitter has and will continue to cooperatively share information with Musk to consummate the transaction in accordance with the terms of the merger agreement,” the statement read.

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