Elon Musk has suspended the process of buying Twitter after the media reported the audience of the social network was inflated, Reuters reports.
Reuters had earlier said citing a report from the social network that fake or spam accounts “accounted for at least 5% of its monetized daily active users.” According to the media, during the reporting period, advertising was shown by 229 million accounts.
Twitter shares reacted to the entrepreneur’s decision with a fall.
Musk became the largest shareholder of Twitter in early April after acquiring a 9.2% stake for $2.89 billion. Then, on April 14, he offered to buy the social network for more than $43 billion.
