Twitter canceled the conference with investors against the backdrop of Ilon’s refusal Mask from the transaction

Twitter published financial results for the II quarter of 2022, but refused a television conference with investors. The board referred to a “incomplete deal” with Ilon Mask.

Twitter’s Q2’22 Results Are Now Available. Read ABOUT It Here: https: // t.CO/K5WBVOK9QW $ TWTR

– Twitter Investor Relations (@twitterir) July 22, 2022

“Given the incomplete acquisition of Twitter, the affiliated person of Ilon Mask, we will not conduct a profit on profit, publish a letter for shareholders or provide financial recommendations […],” the press release said.

According to the results of the II quarter, the base of active users of the social network increased by 16.6%, to 237 million people. At the same time, the company’s revenue decreased by 1%, to $ 1.18 billion.

In April 2022, Elon Musk acquired 9.2% of Twitter shares, and later offered to buy a company at a price of $ 54.2 per share. The leadership of the social network agreed with the conditions.

The billionaire explained the initiative with the desire to create an “inclusive arena for freedom of speech”.

However, in May, Musk suspended the purchase process after messages about the overestimation of the indicators of the audience of the social network. After that, Twitter shareholders filed a lawsuit due to the “chaotic process” of the company’s absorption, accusing the head of Tesla of manipulating the market.

In July, Musk announced the termination of the agreement on the acquisition of the social network.

Recall that in the same month Twitter filed a lawsuit against the head of Tesla due to his exit from the transaction. The platform intends to force the entrepreneur to fulfill obligations and complete the purchase.

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