Companies The legal battle of the year breaks out: Twitter takes Musk to court to force him to buy the social network
Companies Elon Musk countersue Twitter alleging that it did not detail the number of false accounts existing in the social network
Technology Twitter presents decaffeinated results and blames Musk for the drop in its income
Tesla's billionaire CEO
Elon Musk
sold about
$6.5 billion worth of shares in his company in the past three days
, according to documents released today by the US stock market regulator.
On the days of
August 5, 8 and 9, Musk sold more than 7.5 million shares of Tesla
, with a total market value of approximately 6.5 billion dollars, for reasons unknown at the moment.
Despite these sales, the
South African billionaire
still has 155 million shares of the electric vehicle manufacturer in his possession, with a market value at the end of the day on Tuesday of
131,000 million dollars
.
Musk
said last weekend that the
$44 billion
Twitter deal
, which he broke in early July, could be closed if the company provides him with details on how it estimates
the number of fake or "spam" accounts.
"If
simply facilitates its 100-account sampling method and they are confirmed to
be real
, the deal should continue on its original terms,"
Musk
said in a post on Twitter.
The businessman, meanwhile, stressed that if, on the contrary, it is shown that the
information offered by Twitter
to the regulators is false, the operation could not be closed as agreed.
LEGAL BATTLE WITH TWITTER
Musk
notified in early July his intention to cancel the purchase of the technology company, agreed between the two parties for
44,000 million
, to which the latter responded with a lawsuit in a court specialized in commercial disputes to force him to complete the operation.
The argument of the person in
charge of Tesla
is that the social network did not give him the figures on false accounts that he required, while
assures that this is only a pretext to avoid completing the operation, which is becoming less and less attractive due to the drop in the listing of the company and
the loss of Musk's assets as a
result of the fall in the stock markets.
The trial to resolve the dispute will begin on
October 17
, unless both sides agree on another date, according to case documents made public so far.
Twitter 's
board of directors
has invited its shareholders to vote on the purchase on September 13 and has asked them to give
the green light to the operation
as the last step to close it, although it acknowledged that it also depends on the "pending litigation" with the millionaire.
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