Elon Musk says his deal to buy Twitter is on hold

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Tesla CEO, Elon Musk threatens to pull the plug on Twitter deal

Elon Musk said he is putting his bid to acquire Twitter (TWTR) on hold, weeks after agreeing to take the company private in a $44 billion deal.

“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk tweeted on Friday.

The news sent Twitter shares down more than 20% in premarket trading.

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