Elon Musk-Twitter deal on hold for now: Key things to know
As a result of the acquisition, Musk stated that he will make Twitter algorithms open source and alter its regulations to better encourage free expression on the network.
New Delhi: Elon Musk revealed that the Twitter transaction is currently on hold due to the quantity of spam and fraudulent accounts on the platform. The latest development comes after Musk claimed last month that he would buy the microblogging site for $44 billion (approximately Rs. 3,40,800 crore). As a result of the acquisition, Musk stated that he will make Twitter algorithms open source and alter its regulations to better encourage free expression on the network. Shortly after Musk's announcement, speculations surfaced suggesting that the entrepreneur may renegotiate the contract.
Elon Musk
The US Federal Trade Commission(FTC) recently investigated Elon Musk's acquisition of Twitter. The Open Markets Institute recently called for the deal to be halted, claiming that it would give the world's wealthiest man "direct control over one of the world's most important forums for public communication and discussion."
Donald Trump
Musk recently indicated that after the transaction is completed, he will lift Twitter's ban on former US President Donald Trump. While addressing at the Financial Times Future of the Car conference, he labelled the choice "morally wrong and flat-out foolish." Musk also garnered backing from US Republicans — Trump's political party — for the acquisition, however Democrats were not thrilled.