Why Elon Musk dey pull out of $44bn deal to buy Twitter

Elon Musk wan end im $44bn (£36bn) offer to buy Twitter, im dey allege breach of di agreement.

Dis announcement na di latest twist ontop dis mata afta di world richest man bin decide to buy di microblogging site in April 2022.

Musk say im dey back out because Twitter fail to provide enough information on di number of spam and fake accounts.

Twitter dey plan to use legal action to enforce di agreement.

"Twitter Board dey committed to close di transaction for di price and terms wey Oga Musk bin agree," Twitter chairman Bret Taylor write for tweet.

As tins be, e fit set up long legal battle between di two sides.

Di original merger agreement include $1bn (£830m) break-up fee.

Fight ova fake accounts

Na for May, Oga Musk bin tok say di deal dey "temporarily on hold" onto say e dey wait for data on di number of fake and spam accounts on Twitter.

Di billionaire businessman bin don ask for evidence to back di company claim say spam and bot accounts make up less than 5% of dia total users.

For one letter wey im file wit di US Securities and Exchange Commission, Oga Musk lawyer say Twitter don fail or refuse to provide dis information.

"Sometimes Twitter dey ignore oga Musk requests, sometimes e dey reject dem for reasons wey dey unjustified...

"...and sometimes dem dey claim to comply to givie oga Musk informate wey no dey complete or informate wey e no fit use," di letter tok.

Tori be say spam accounts dey designed to spread information to large numbers of pipo and manipulate di way dem dey interact wit di platform.

On Thursday, Twitter say dem dey remove around 1 million of dat kain account every day.

Oga Musk believe say spam or bot accounts fit account for 20% or more of Twitter users.

Shares for Twitter bin fall by 7% in extended trading afta di announcement.

Analysis by James Clayton North America technology reporter

Elon Musk don dey try for weeks to get informate about how many daily active users Twitter get.

Twitter get problem wit bots alias fake accounts. In fact only on Thursday dem say dem remove one million spam accounts a day.

For im filing, oga Musk say dem refuse to give am informate about di number of bot accounts on Twitter – dat na why im wan terminate di deal.

Although Elon Musk don already put pen to paper on top dis deal, and e no dey clear whether im fit back out at dis stage.

Oga Musk go need to prove say Twitter break dia agreement.

E get oda reasons wey fit don make Oga Musk to pull out of di deal.

Di stock market price for large tech companies don fall well in the last few months – another tin na whether Oga Musk offer too much?

And then di impact di potential merger get on Oga Musk oda companies. Tesla share price don fall well-well since im announce im interest for Twitter.

Im position on free speech and how Twitter fit moderate for future - base on di laws of individual kontries - at times dey naïve.

A bi Elon Musk reason am say dis tin fit don cast?

Oga Musk, na di world richest pesin, di founder of rocket company SpaceX and electric car company Tesla.

Im bin criticise Twitter ban of some accounts, like dat of former US President Donald Trump.

Him also call for more transparency ova how di platform dey present tweets to users, one system wey currently dey allow some to dey promoted to get wider audiences.