Serial. Elon Musk suspends his takeover of Twitter

Elon Musk is giving up on Twitter? By tweeting on Friday morning, May 13, that he was suspending his takeover pending the number of fake social media accounts, the capricious billionaire at least managed to surprise. And provoke some speculation from the financial community and the international press about the meaning that should be given to this rebound.

“He could have tried to renegotiate the price or even abandon the takeover,” according to the hypotheses of financial analysts, the BBC summarizes.

By announcing “that his $44 billion takeover of Twitter is ‘temporarily on hold’ until the billionaire gets more information about the share of fake accounts,” Elon Musk “plunged the social media giant into a new abyss” anyway, Bloomberg notes.

Twitter shares lost 20% in trading ahead of the Wall Street opening on Friday morning, while Tesla shares rose 5%. Quite a logical reaction of the markets, which increasingly doubted “Musk’s ability to complete his acquisition,” the American economic media added. Especially in the context of the turbulence in the stock market, which has particularly affected technology stocks in recent days. Which suggests that “the entrepreneur could have foreseen

Back to top button