Elon Musk accused microblogging service Twitter of violating the terms of the agreement to buy the company for $44 billion. And in this regard, he threatened to terminate the agreement.
Musk’s legal team sent a letter to Twitter stating that the administration of the service did not provide him with information about the problem with spam bots. At the same time, Musk has the right to receive this information in accordance with the purchase agreement. The letter said the company “actively opposes and violates his rights to information.” Because of this, Musk may decide to “not make a deal” due to an alleged breach of contract.
Musk has been complaining about the spambot problem on Twitter for weeks. In mid-May, he said the deal was “postponed” due to his concerns about bots, and it “couldn’t move forward” until Twitter could prove its spam count was accurate.
But it’s only now that Musk has made an official threat to back out of the acquisition. Most of his previous complaints were made in tweets and interviews. Wedbush Securities analyst Daniel Ives wrote that the letter indicated that Musk “hopes to back out of the deal.”
Twitter has not yet commented on the situation.
Twitter estimates that less than 5% of daily users use spam accounts. According to other data, this figure is much higher.
Study: 23% of Elon Musk’s Twitter followers are fake or spam accounts. And 19.42% of active microblog accounts in the last 90 days are bots
Elon Musk allowed Twitter acquisition for less than $44 billion due to underestimation of the number of spam accounts in the company’s reports
Source: The Verge
