Elon Musk said on Friday his $44-billion (roughly Rs. 3,40,710 crore) acquisition of Twitter was temporarily on hold, citing pending details on spam and fake accounts.

Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5 percent of users,” he said in a tweet.

Shares of the social media company fell 17 percent in premarket trading.

© Thomson Reuters 2022

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