Elon Musk says there are 3 outstanding issues that need to be addressed before his offer to buy Twitter is implemented.
Billionaire Elon Musk has offered to buy social media giant Twitter for $ 44 billion. However, the purchase stumbled upon a wall when it was discovered that the amount of bots or fake accounts or users on the platform may have been greatly underestimated by Twitter. This problem not only affected the deal, it suggests that Twitter has misrepresented its reports for years, which would have serious consequences for the SEC and stakeholders, if true.
Musk was in Bloomberg yesterday, where he shared his concerns about his buyout offer after learning about the number of bots that actually exist on the platform.
Musk seeks to buy Twitter for $ 44 billion, a mega gain with huge implications for the social media world – not least given Tesla and CEOs of SpaceX controversial position on moderating content and freedom of speech.
Speaking at an event hosted by Bloomberg on Tuesday, Musk said there were a number of “unresolved issues” that would need to be addressed before he could proceed with the takeover.
The 3 items are:
1. The main element is the actual number of bots reported by the social platform. The company says it is less than 5%, while Musk and others expect it to be much higher. This must be decided.
2. Funding is a problem. Musk said a large percentage of the purchase will be in loans, which are apparently still being prepared.
3. Twitter shareholders will have to approve the deal. This is also not a small task.
We will see what happens, but at least one expert we spoke to said that the current deal has a zero percent chance of ending its current structure. The expected deadline for the deal is July or August. We will see what happens next.