(CNBC) Elon Musk’s Twitter acquisition remains uncertain after the billionaire cited “unresolved matters” before he could finalize the deal.
The lingering issue of fake accounts is one that Musk has insisted needs to be addressed. Musk says he is waiting for the resolution of the matter, refuting claims by Twitter that less than 5% of its monetizable daily active users are spam accounts.
Musk says debt financing of the deal is another stumbling block. He has committed to paying $33.5 billion of the $44 billion deal and obtained $7.1 billion from investors. The Tesla CEO says the remainder will come in the form of bank loans, and this will need to be resolved.
The deal must also be approved by Twitter’s shareholders. Already, investors are expected to approve it in late July or early August. With the shareholders last month suing Musk and Twitter for the chaotic handling of the deal, approval remains uncertain.
TWTR: NYSE is up +0.71%.
