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Elon Musk raises his direct contribution to the acquisition of Twitter to 33.5 billion dollars

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After the announcement, Shares of the social network rose about 6% to $39.15 in extended trading.

Elon Musk increased to 33.5 billion dollars the amount that it will contribute directly, together with its partners, for the purchase of Twitter, further reducing the amount of a complementary bank loan, is reported in a statement from the US Securities and Exchange Commission.

Musk, who had initially contracted loans in the order of 25.5 billion dollars, reduced those credits to 13,000 million dollars, according to the document presented this Wednesday, May 25. In this way, the CEO of Tesla and SpaceX reduces the part of the financing that comes from loans and eliminates the credits linked to the capital of his electric vehicle company.

The document also indicates that the tycoon is working to complete the agreement, despite the fact that last week he suggested that his offer to buy Twitter for 44,000 million dollars should be reduced in proportion to the number of ‘bots’ that there are in the social network. . He then presented evidence that spam bots represent no less than 5% of total users

Furthermore, Musk said he was in talks with major shareholders of the platform, including Jack Dorsey, to seek additional financial commitments and their contribution, either in cash or Twitter stock.

Following the announcement, Twitter stock rose nearly 6% to 39.25 dollars in extended operations. Shortly before they had fallen 18%, when Musk announced that he was going to put the deal “on hold” while he investigated the proportion of fake and spam accounts on the platform.

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