Elon Musk claims in a stock filing released on Monday that Twitter is “actively resisting” its requests for information about spam and fake accounts, which it considers a clear violation of the social network’s obligations under its offer to redemption. “Mr. Musk reserves all rights resulting therefrom, including his right not to consummate the transaction and his right to terminate the merger agreement,” read a letter to Twitter’s chief legal officer posted on Twitter. site of the American authority of the financial markets (SEC).
After filing an offer to buy the social network for 44 billion dollars in April, the multi-billionaire boss of Tesla has repeatedly questioned the data transmitted by Twitter on spam and fake accounts and the measures taken to limit proliferation. According to Twitter, these account for less than 5% of registered accounts.
Musk demands more information
“Twitter’s latest offer to simply provide additional details relating to its testing methodologies, whether through written documentation or verbal explanations, is tantamount to denying Mr. Musk’s claims for data.” he writes in the letter. However, it is also affirmed, the entrepreneur needs more information to prepare the transition and finalize the financing of the operation.
After previous criticisms of Mr. Musk, the boss of the social network Parag Agrawal had split mid-May of a long explanation on the measures taken to fight against fake accounts. Mr. Agrawal had notably indicated that Twitter’s figures, according to which less than 5% of the platform’s accounts are fake, were “based on multiple reproductions of human analysis of accounts, which are randomly selected”.
— Elon Musk (@elonmusk) May 16, 2022
The whimsical entrepreneur had responded to these explanations with an emoji in the shape of poop. “How do advertisers know what they are really paying?” he also tweeted. “This is a fundamental issue for the financial health of Twitter.”
This new episode in the saga of the takeover of Twitter comes after the expiration, Friday, of the deadline granted to the American competition authorities to launch a thorough examination of the operation. They did not take up the case, thus leaving the field open to continue finalizing the transaction.