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Elon Musk puts Twitter deal on hold
Tesla Inc Chief Executive Elon Musk said plans to buy Twitter have been temporarily put on hold.
Musk announced via his Twitter handle on Friday.
The text of his post on Twitter reads: "Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts actually represent less than 5% of users."
The freeze on the much-anticipated Twitter deal may have necessitated the hanging of shares in the social media giant.
Meanwhile, the Tesla founder had made eradicating spam accounts and bots a key part of his planned $44 billion takeover of the Twitter app.
In April, when the deal was announced, Musk announced his plans to make Twitter "better than ever" by "beating the spam bots and authenticating everyone."
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