Trending Topics:

Elon Musk announces halt in Twitter deal

The Chief Executive Officer (CEO) of Tesla, Elon Musk, has said that plans to buy Twitter have been temporarily put on a hold.

Musk made the announcement on Friday via his Twitter handle.

His Tweet reads, “Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users.”

The halt on the much-anticipated Twitter deal may have necessitated sending shares in the social media giant hanging.

Meanwhile, Musk had made the eradication of spam accounts and bots one of the cores of his proposed $44 billion takeover of the Twitter app.

In April, when the deal was announced, the Tesla boss made known his plans to make Twitter “better than ever” by “defeating the spam bots and authenticating all humans” known.