Elon Musk, founder of Tesla and SpaceX, has hinted at withdrawing from 44 billion deal to buy Twitter.
According to a Reuters report, a letter sent to Twitter by lawyers for the world's richest man said that if the social media network could not provide data on spam and fake accounts, they could change their decision to buy it.
The letter said that Twitter was violating its promises and that Elon Musk had the power to cancel the deal.
This is the first time Elon Musk has warned of withdrawing from a deal to buy Twitter.
The letter added that Elon Musk believes that Twitter is not fulfilling its promises in the agreement, which raises suspicions that the company has deliberately withheld the required data.
Earlier, on May 13, 2022, Elon Musk suspended the purchase of Twitter, citing the number of fake accounts.
In a tweet on the occasion, he said that it should be confirmed whether the number of fake and spam accounts in Twitter is really less than 5% of the total number.
During a conference in Miami a few days later, Elon Musk hinted that he wanted to buy Twitter for less than 44 billion.
He said a 54.20 per share offer reduction was not out of the question.
"It depends on a number of factors, we are waiting for some logical explanation regarding the number of fake or spam accounts on Twitter, while Twitter is refusing to tell us, which is a strange one," he said. That's it.
Under the terms of the agreement, Elon Musk will have to pay 1 billion in bank fees if he changes his mind about buying Twitter.
