Twitter stock falls 7 percent

Dusseldorf The end of the planned takeover by Elon Musk sends Twitter shares plummeting. The paper of the short message service falls in pre-market US trading by seven percent and is listed below $ 35.

The Tesla boss withdrew his takeover bid over the weekend. In April, he had bid $44 billion for the company – $54.20 per share. That had attracted a lot of international attention. The Twitter share price rose by around 28 percent at the time.

As the takeover negotiations progressed, a dispute arose. Musk asked Twitter to disclose details about fake and spam accounts. The San Francisco-based company did not want to comply. The case is now before the American courts.

Experts consider the reasons for the cancellation to be advanced. “It is more likely that the deal is now too expensive for him, since Twitter’s share price has fallen significantly since the plan was announced,” says investment strategist Jürgen Molnar of brokerage house RoboMarkets.