Elon Musk's proposed Twitter acquisition in 'serious jeopardy' over fake users: Report

Elon Musk’s proposed $44 billion takeover of social networking site Twitter is in danger, according to a Washington Post report, and it has resulted in a dip in share prices of the company. The deal was on the verge of completion, but it has hit a wall since the Tesla CEO expressed his concern about the percentage of fake users on Twitter. Although the company has denied it, the Washington Post report said that Musk is still unable to determine the percentage despite access to internal data of the company. While there has not been any official statement from Musk, the report quoted an anonymous source who said that his team is currently preparing for a "change in direction."

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The share prices of Twitter have dropped almost four per cent since the report came out and experts believe that the takeover may be headed towards a “finale” in the coming days.

"The Twitter soap opera is clearly coming to some sort of finale over the coming months as Musk makes the decision to stay (with a lower price) or go," Wedbush analyst Dan Ives said in a note to investors according to Forbes. "The Twitter deal has clearly caused chaos at Twitter."

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Earlier, Musk maintained that the deal is being delayed by concerns about the fake users. During his speech at the Qatar Economic Forum last month, he said that his team is working towards the deal.

"So, we are still awaiting resolution on that matter and that is a very significant matter," he said.

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