As Tesla CEO Elon Musk announced to call off Twitter deal accusing the latter of not being transparent, global market expert Ajay Bagga in conversation with Zee Business Managing Director Anil Singhvi decodes this entire episode. He was of the view that American court may rule in favour of Twitter in this row. Bagga said initially Elon Musk announced buying Twitter and then denied it citing the company not being transparent about the number of fake accounts on the platform and asking for evidence. In response, Twitter has said that less than 5% of accounts on the platform are scams. Notwithstanding, the company has hired a big legal firm. Usually, American courts are strict for sellers if they call such deals off and impose heavy penalties. Since the announcement by Musk on Twitter, the company’s share has gone down by 30% in the market. Shares of Snapchat, another messaging app, is already 53% down in the market. And Twitter is expected to jump behind Snapchat in the future. This indeed is a piece of bad news for Twitter, claimed Bagga. See Zee Business Live TV Streaming Below: “The American court is most likely to take Twitter’s side in this potential legal…
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Twitter vs Elon Musk: What prompted Tesla's CEO to call off the deal, expected court ruling …
