(ANSA) – ROME, MAY 17 – Elon Musk hovers the idea of an agreement to buy Twitter at a lower price than the one offered. “It is not out of the question”, says Tesla’s boss speaking via video at a conference in Miami, during which – reports the Bloomberg agency – he estimated that fake accounts on the platform could be as much as 20%.
The opening to an acquisition at a price below the 44 billion dollars offered fuels speculation about Musk’s next moves, which last week surprisingly suspended the agreement pending clarification on the spam-fake accounts on Twitter, estimated by the companies in about 5% of the total. “An estimate of spam accounts from the outside is impossible because to do it you need public and private information (which we cannot share),” replied Twitter CEO Parag Agrawal. An answer Musk didn’t like: Spam account data is “critical to Twitter’s financial health” otherwise “how do advertisers know what they’re getting with their money?” Musk replied. The long-distance confrontation then continues, increasing the confusion about an agreement that, according to many, will never see the light. However, it is not easy for Tesla’s boss to free himself from the agreement, also considering that Musk has waived a careful due diligence by Twitter to speed up the closing times of the agreement. And this exposes him to the risk of being dragged to court by the company that chirps to complete the transaction on the basis of rights and legal protections that go by the name of “specific performance”. However, some observers point out that the data on spam accounts is public and therefore Musk could find a loophole should he decide to take a step back. (HANDLE).
Source: Ansa
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