• Log in

Fright Fest horror to take over Delta this October!

  • 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.

Quebec's strategic maple syrup reserve running dry amid high demand

Quebec's strategic maple syrup reserve running dry
THE CANADIAN PRESS/Christinne Muschi The Canadian Press

The head of Quebec's maple syrup producer's association says the province's strategic syrup reserve has run dry amid high demand for the product.

Québec Maple Syrup Producers President Luc Goulet says government support will be needed to ensure the industry doesn't miss out on opportunities to grow the sector.

Keep reading Show less

Canadians step up to give blood after fire at Alberta military base kills four

Deadly military base fire prompts blood donations
THE CANADIAN PRESS/James Maclennan

Some Canadians are rolling up their sleeves to give blood as the military town of Wainwright, Alta., mourns the four soldiers killed in a weekend training exercise gone fatally wrong.

Defence officials have said 84 members of the Princess Patricia's Canadian Light Infantry were in a training area of CFB Wainwright, southeast of Edmonton, when disaster struck Saturday.

Keep reading Show less

How community organizations are trying to fight voter apathy in this Toronto election

Community events aim to engage Toronto voters
THE CANADIAN PRESS/Sharif Hassan

Music blasted through speakers as people chatted enthusiastically outside a Toronto venue, moving between tents, a hotdog cart and an ice cream truck on a sunny October day.

What looked like an outdoor festival at Lawrence Heights Community Centre was a fair held to raise civic engagement and encourage the city’s residents to vote in the Oct. 26 municipal election.

Keep reading Show less

Trending right now on Narcity

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

This little island is a ferry trip away from Vancouver and was named among the best in BC

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

40 Cheap & Best All-Inclusive Resorts In Mexico To Escape To This February & March