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TWITTER BOARD ENDORSES ELON MUSK’S $44BN DEAL

Twitter’s board has endorsed the company’s proposed $44 billion sales to billionaire and Tesla CEO Elon Musk.

According to News, This was contained in a regulatory filing Tuesday.

However, news quoted Musk said Tuesday that his $44 billion moves to take over Twitter remained held up by “very significant” questions about the number of fake users on the social network.

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Musk was reluctant to talk about the deal when asked at the Qatar Economic Forum, saying it was a sensitive matter.

Musk said by video link that there are still a few unresolved matters.

The Tesla car and SpaceX exploration chief said that those matters include whether the number of fake and spam users on the system is less than five per cent as per their claims, which he thinks is probably not most people’s experience when using Twitter and that they are still awaiting resolution on that matter and that is a very significant matter.

Musk said there were also questions about Twitter’s debt and whether shareholders will vote for the deal.

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He also said that he wanted to get 80 per cent of the North American population and half the world’s population onto Twitter.

Musk added that he expected Tesla’s number of employees to fall by about 3.5 per cent in the next three months but the headcount would start rising again in a year.

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