Elon Musk warns Twitter deal stuck without fake account proof

Elon Musk has said his $44 billion deal to buy Twitter may be in jeopardy due to a disagreement over the number of fake accounts on the social media platform.

Musk tweeted that the deal “cannot move forward” unless Twitter backs up its claim that less than 5% of daily users are fake or spam accounts.

Twitter has defended its figures, adding that Musk waived rights to “due diligence” to clinch the deal. The spat has raised doubts about the takeover.

Analysts have speculated that Musk may be looking for ways to renegotiate the price of the deal or walk away.

Musk agreed the $44 billion deal to buy Twitter with its board in April, but last week Musk said the deal was “on hold” while he sought details about fake accounts.

He has continued to press the issue in tweets and public appearances, while also hinting that he could seek a lower price. On Tuesday, Musk said Twitter boss Parag Agrawal had “publicly refused to show proof” that fewer than 5% of its accounts were fake, and said the deal “cannot move forward” until Agrawal does show proof.

In a tweet that has since been deleted, Musk put the number of fake accounts at 20% or more.

Musk has doubled down on his position that his deal to buy the social network is on ice while the actual amount of spambots and accounts operating on it is investigated.

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