Twitter: Elon Musk takes another step backwards

(CercleFinance.com) - On Monday Elon Musk took another step backwards in his plan to buy Twitter, accusing the micro-blogging site of a "serious breach" of the conditions set out in their agreement.


Still central to the opposition between both sides is the number of fake accounts linked to "spam" and other "bots" existing on the platform, which has not been resolved.

For Musk and his lawyers, the clarifications provided by Twitter regarding the methodology used to count these profiles are insufficient and amount to a withholding of information.

Mr. Musk believes that the company is actively resisting and thwarting his right to information (and thus the company's obligations), as established under the reconciliation agreement, meaning a clear and serious breach of the obligations imposed on Twitter under the agreement and Mr. Musk reserves rights, including the right not to complete the transaction and the right to terminate the combination agreement a statement said.

However, Dan Ives, Wedbush's Managing Director and star analyst, Musk is simply trying to get out of the deal.

Twitter shares closed down about 1.5% in a flat market yesterday.


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