Elon Musk outlines three hurdles before Twitter deal can complete [Video]

elon twitter
Credit: Salon

During an interview at the Qatar Economic Forum on Tuesday, Elon Musk outlined three issues that needs to be resolved before he can complete his $44 billion buyout of Twitter.

After threatening to walk away from the deal over concerns the company was underestimating the number of fake or spam accounts, Musk said he is still wanting more information on how many users are real people.

Musk did not comment on reports that Twitter had agreed to provide him with a “firehose” of data to verify those claims, but did say he was “still awaiting a resolution on that matter, and that is a very significant matter.” (via CNBC)

Another hurdle to overcome is the amount of debt required to finance the deal and whether it will all come together.

According to a regulatory filing in May, Musk is committing $33.5 billion himself and has been able to secure up to more than $7 billion from investors. The remaining $4 billion will come in the form of bank loans, something which is still uncertain according to Musk.

The final hurdle is obtaining the required shareholder approval. The first step in overcoming that hurdle took place today, with the company’s board of director unanimously approving shareholders vote to approve the merger agreement.

The vote is expected to take place in late July or early August.

“And then, of course, there is the question of, will the debt portion of the round come together? And then will the shareholders vote in favour?” Musk said.

Musk said that these are “the three things that need to be resolved before the transaction can complete.”

You can watch Musk’s full interview at the Qatar Economic Forum below.

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