International Business: Twitter deal won’t advance without addressing spam bots, Musk says – Gulf Digital News

International Business: Twitter deal won’t advance without addressing spam bots, Musk says – Gulf Digital News

Elon Musk said on Tuesday his $44-billion offer would not move forward until Twitter Inc shows proof that spam bots account for less than 5% of its total users, hours after suggesting he could seek a lower price for the company.

"My offer was based on Twitter's SEC filings being accurate. Yesterday, Twitter's CEO publicly refused to show proof of <5% (spam accounts). This deal cannot move forward until he does," Musk said in a tweet.

Hours later, Twitter said it was committed to completing the deal at the agreed price and terms "as promptly as practicable."

Its stock pared losses in premarket trading, but was down about 3% at $36.31, lower than its price on the day before Musk disclosed his Twitter stake, raising doubts if the billionaire entrepreneur would proceed with his offer of $54.20 per share.

After putting his offer on hold last week pending information on spam accounts, Musk said he suspected they account for at least 20% of users compared with Twitter's official estimate of 5%.

"You can't pay the same price for something that is much worse than they claimed," he said on Monday at the All-In Summit 2022 conference in Miami.

Asked if the deal is viable at a