ANI
13 May 2022, 23:37 GMT+10
Washington [US], May 13 (ANI): Twitter shares tumbled around 20 per cent in the pre-market trading on Friday after billionaire Elon Musk declared that the $44 billion takeover bid of the micro-blogging site is on hold.
Musk tweeted that the takeover of Twitter Inc is temporarily on hold due to the calculation of fake accounts in it.
"Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5 per cent of users," Musk tweeted tagging a media report.
Musk's announcement came before the opening of trading in the American stock exchanges.
In the pre-market trading, Twitter Inc share price crashed to USD 37.10, which is 17.7 per cent lower than its previous day's close.
Musk said earlier this week that Twitter's decision to ban former US President Donald Trump was a mistake and he would reverse it if his acquisition of the social media company is successful.
Twitter recently agreed to acquisition by Musk in a deal worth USD 44 billion, although it is still subject to shareholder approval. (ANI)
Get a daily dose of Tennis Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Tennis Times.
More InformationBoston Bruins center and four-time winner Patrice Bergeron was named a finalist for the Selke Trophy on Tuesday for the ...
New York Mets ace Jacob deGrom has "continued healing" in his injured right scapula and will "continue to build distance ...
Who doesn't need a 6-foot-10 forward with 3-point range and an on-your-head dunk mindset? That's what oddsmakers are asking about ...
The Buffalo Bills signed their first-round pick Kaiir Elam to his four-year contract worth a fully guaranteed $13.69 million, Pro ...
The Tennessee Titans agreed to terms with wide receiver Treylon Burks, the No. 18 overall pick in the 2022 NFL ...
Mike Krzyzewski earned roughly $12.4 million in net compensation in 2020, USA Today reported Tuesday. That figure is the most ...
HAVANA, Cuba: Cuba's state cigar monopoly, Habanos S.A., reports that sales of its famous hand-rolled cigars have rebounded strongly after ...
New Delhi [India], May 17 (ANI): Royal Challengers Bangalore (RCB) and India wicketkeeper-batter Dinesh Karthik says that as an athlete, ...
Elizabeth II should apologize and pay reparations for the Anglican Church's role in Canada's infamous residential school system, indigenous leaders ...
For years, the Siyam family clung to hope they would one day be reunited with their son Wassim, who they ...
KYIV, Ukraine - By JASON DEAREN, JULIET LINDERMAN and OLEKSANDR STASHEVSKYIAs she lay buried under the rubble, her legs broken ...
New Delhi [India], May 17 (ANI): The Delhi High Court on Tuesday dismissed a plea seeking direction to declare cash ...