• Log in

The 4 soldiers killed in fast-moving fire at CFB Wainwright in Alberta

  • English
  • French

Trending Tags

  • News
  • Travel
  • Eat & Drink
  • Sports
  • Things To Do
  • Real Estate
  • People
  • Money
  • Narcity TV
  • Deals
  • Podcasts

Popular Cities

  • Toronto
  • Ottawa
  • Calgary
  • Vancouver
  • Montréal (fr)
  • Québec (fr)
  • Halifax
  • Edmonton
  • Montreal (en)
  • Laval (fr)
  • St. John's
  • Whitehorse
  • Winnipeg
  • Atlanta
  • Austin
  • Houston
  • Las Vegas
  • Los Angeles

Get Narcity on the Go

Download on the App StoreGet it on Google Play
  • About
  • Editorial standards
  • Advertise
  • POLITICAL ADS REGISTRY
  • careers
  • Privacy Policy
  • Contact Us
  • Terms & Cond.
  • Submit a news tip
Sign in

Welcome back!
Choose your sign-in method.

Don't have an account?

By continuing, you agree to our Terms & Conditions

Create account

Already have an account?

By continuing, you agree to our Terms & Conditions

Create an Account
Minimum of 8 characters and one number or symbol.

Looks like your email is already registered. Reset your password

By continuing, you agree to our Terms & Conditions

Looks like your e-mail is already registred!

Please check your e-mail to reset your password.

Sign in with Email

Forgot your password?

Reset Password
Please enter email address to receive instructions to reset password
This website uses cookies

We use cookies to personalize content and ads, to provide social media features and to analyze our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you’ve provided to them or that they’ve collected from your use of their services. Learn More

close
Yes, I Accept
elon musk
EN - People

Elon Musk Says His Twitter Deal Is 'Temporarily On Hold' & He's Blaming Bots For The Delay

It's not a done deal yet 🤖

Hutchinsphoto | Dreamstime, Rafael Henrique | Dreamstime
Sameen Chaudhry
May 13, 2022, 10:07 AM

It looks like being the world's richest man hasn't prevented Elon Musk from encountering hiccups in his effort to buy Twitter.

Musk announced on Twitter early Friday that his plan to buy the social media platform for $44 billion is "temporarily on hold."

He says the holdup involves a calculation about the number of "spam/fake accounts" on the platform. He also shared shared a Reuters article about Twitter's estimate that spam and fake accounts comprise less than 5% of the platform's users.

Basically, he wants some assurances that those numbers are accurate.

1652435078

He followed it with a reassurance that he is "still committed to acquisition."

Since posting the tweet, Twitter's stock took a 25% tumble, reported Bloomberg.

A report released by Twitter a few weeks ago said they "applied significant judgment, so [their] estimation of false or spam accounts may not accurately represent the actual number of such accounts, and the actual number of false or spam accounts could be higher than [they] have estimated."

Musk has been adamant about wiping out all spam accounts from the platform when he acquires it, and he's now waiting on Twitter to come back with the exact percentage.

He's also promised to unban the accounts of some prominent figures, including former U.S. President Donald Trump.

There has been speculation for weeks now that the deal might not go through, either because Musk might struggle to put the cash together or because he might simply change his mind or break the rules of the deal.

Analysts speculate that Musk might be trying to renegotiate the price or even trying to end the deal altogether, reported the BBC.

"There will also be questions raised over whether fake accounts are the real reason behind this delaying tactic," Susannah Streeter, a senior investment and markets analyst at Hargreaves Lansdown, told Bloomberg.

"Given that promoting free speech rather than focusing on wealth creation appeared to be his primary motivation for the takeover. The $44 billion price tag is huge, and it may be a strategy to row back on the amount he is prepared to pay to acquire the platform," added Streeter.

According to the terms of Musk's deal with Twitter, if either of them walks away it'll cost them a $1 billion termination fee.

From Your Site Articles
  • Elon Musk Wants To Buy Twitter For A Huge Sum & He Wasn't Kind ... ›
  • Elon Musk Is Buying Twitter & Users Are Already Freaking Out About ... ›
  • Elon Musk Is Buying Twitter & Here's How To Delete Your Account If ... ›
  • Elon Musk Is Feuding With A Teenager Over $50K & A Twitter Bot ... ›
  • The Teen Who Tracked Elon Musk's Jet Is Now Targeting Putin ... ›
Discover Narcity
Get the latest and greatest stories every day in your inbox.

Retired major-general says training at CFB Wainwright 'as real as it can be'

CFB Wainwright training 'as real as it can be'
THE CANADIAN PRESS/Sean Kilpatrick

A retired Canadian Armed Forces major-general says training at CFB Wainwright in Alberta is “as real as it can be” to prepare soldiers for combat operations.

A fire broke out at the base’s training area on Saturday night, resulting in deaths and injuries, but the number of casualties hasn't been disclosed.

Keep reading Show less

Daniel Allain new leader of New Brunswick's Progressive Conservatives

Daniel Allain new leader of New Brunswick Tories
THE CANADIAN PRESS/Eli J. Ridder

Daniel Allain is the new leader of New Brunswick’s Progressive Conservative party after taking the majority of ballots in a two-person race.

The upbeat former provincial cabinet minister took to the stage after he was declared the winner Saturday at a party leadership convention and vowed to create a “broad and welcoming” coalition.

Keep reading Show less

N.L. faces ‘serious liability questions’ over Ithaca Energy’s entry into province’s oil sector, legal expert warns

Ithaca’s majority owner, Delek Group, is blacklisted by the UN over alleged human rights concerns.

The provincial government doesn’t intend to stop Ithaca Energy’s entry into Newfoundland and Labrador’s oil sector despite the company’s ties to Israel’s illegal occupation of Palestinian territory.

Ithaca is majority-owned by Israeli energy conglomerate Delek Group, which is blacklisted by the United Nations for its alleged role in “activities that raised particular human rights concerns.”

Keep reading Show less

Trending right now on Narcity

This Frozen Lake In Canada Makes It Look Like You're Skating On Clouds

Toronto Police Identify Woman Who Threw Chair And "Other Items" Off A High-Rise Balcony

This Hidden Toronto Cafe Is Insanely Cute And Has Amazing Food

Ontario Gas Prices Are Set To Rise Tomorrow & You'll Want To Fuel up Before The Weekend

These 13 Hiking Spots Are Some Of The Most Scenic Trails You’ll Find Across Canada