equitieswatch
Tuesday, January 31, 2023
About us
Advertise
  • Home
  • Stock Market
  • Finance
  • Cryptocurrency
  • Commodities
No Result
View All Result
Equitieswatch.com
No Result
View All Result

Musk’s $44 billion buyout of Twitter faces U.S. antitrust review -report By Reuters

by equitieswatch
May 6, 2022
in Stock Market

YOU MAY ALSO LIKE

Mexico’s new airport gets boost from Panama’s Copa Airlines By Reuters

Honda and Sony Team Up to Tackle Tesla

2/2

© Reuters. FILE PHOTO: Elon Musk’s Twitter profile is seen on a smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. REUTERS/Dado Ruvic/Illustration

2/2

(Reuters) -The U.S. Federal Trade Commission (FTC) is reviewing Tesla (NASDAQ:) Chief Executive Elon Musk’s $44 billion takeover of Twitter Inc (NYSE:), Bloomberg News reported on Thursday, citing a person familiar with the deal.

The FTC declined to comment, while Musk could not be reached for comment.

The agency will decide in the next month whether it will do an in-depth antitrust probe of the proposed transaction, the person told Bloomberg. Such a probe would delay the deal’s closing by months.

Antitrust experts have said there is little likelihood the agency will find any evidence that Musk’s purchase of Twitter is illegal under antitrust law.

The FTC is already investigating Musk’s initial purchase of a 9% stake in Twitter, probing whether he complied with an antitrust reporting requirement when he acquired the shares in early April.

One critic of the deal has been Open Markets Institute, which said that it should be stopped to avoid giving an already powerful man “direct control over one of the world’s most important platforms for public communications and debate.” It also cited Musk’s ownership of the satellite communications company Starlink as a concern.

The deal has the support of Republicans, who hope conservatives banned from the site, like former President Donald Trump, will be allowed to return.

While Musk has tweeted about free speech, when he discusses plans for Twitter he focuses more on helping revenues by getting more people to use it or cutting such expenses as executive pay. He has said nothing publicly about allowing banned former users to return.

Source link

ShareTweetPin

Search

No Result
View All Result

Recent News

Oil slips further on demand, financial market worries By Reuters

Oil Sinks Further Amid China Concerns, Weakened Economic Prospects By Investing.com

October 25, 2022
Gold Up, Set for Second Weekly Gain as Dollar Falls from 20-Year High By Investing.com

Gold Pressured Near $1,650, Copper Muted on Economic Fears By Investing.com

October 25, 2022
Explainer-What would be the impact of Russian oil sanctions in Europe? By Reuters

Oil prices edge higher as U.S. dollar eases By Reuters

October 25, 2022
Equitieswatch.com

Equitieswatch.com is your Stock Market, Finance, Forex, Cryptocurrency, Business, NFT News Website. We provide you with the latest breaking news and videos straight from the Business industry.

  • Home
  • About us
  • Contact
  • Privacy Policy

© 2022 www.equitieswatch.com

No Result
View All Result
  • Home
  • Stock Market
  • Finance
  • Cryptocurrency
  • Commodities

© 2022 www.equitieswatch.com