Elon Musk terminates Twitter deal

00:35

Elon Musk terminates $44bn Twitter deal

Elon Musk has withdrawn his $44bn (£36bn) bid to buy Twitter, alleging multiple breaches of the agreement.

The announcement is the latest twist after the founder of Tesla decided to buy Twitter in April.

Mr Musk said he had backed out of the purchase because Twitter failed to provide enough information on the number of spam and fake accounts.

Twitter says it plans to pursue legal action to enforce the agreement.

The original merger agreement between the social media platform and the world's richest person includes a $1bn (£830m) break-up fee.

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