Elon Musk says ‘Twitter deal temporarily on hold’

Washington, May 13: Tesla CEO Elon Musk said on Friday his $44-billion deal for Twitter Inc was temporarily on hold, citing pending details on spam and fake accounts.

"Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users," Musk said in a tweet.

Twitter's stock has plunged over 19 percent, on the other hand, Tesla has risen 5 percent on the US futures in pre-market trade.

Musk had earlier said that one of his priorities would be to remove "spam bots" from the platform.

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