Twitter to Share Data at Heart of Musk Deal Dispute

Analysts have doubts about Elon Musk's notion of relying on subscriptions instead of ads at Twitter Britta Pedersen POOL/AFP/File
Analysts have doubts about Elon Musk's notion of relying on subscriptions instead of ads at Twitter Britta Pedersen POOL/AFP/File
TT

Twitter to Share Data at Heart of Musk Deal Dispute

Analysts have doubts about Elon Musk's notion of relying on subscriptions instead of ads at Twitter Britta Pedersen POOL/AFP/File
Analysts have doubts about Elon Musk's notion of relying on subscriptions instead of ads at Twitter Britta Pedersen POOL/AFP/File

Twitter will yield to Elon Musk's demand for internal data central to a standoff over his troubled $44 billion bid to buy the platform, US media reported on Wednesday.

The news comes just days after the Tesla chief threatened to back out of his deal to purchase Twitter, accusing it of failing to provide data on fake accounts, AFP said.

The Washington Post, New York Times and website Axios cited unnamed sources familiar with the negotiations as saying Twitter's board decided to let Musk access its full "firehose" of internal data associated with the hundreds of millions of tweets posted daily at the service.

"This would end the major standoff between Musk and the board on this hot button issue which has paused the deal," Wedbush analyst Dan Ives said in a tweet.

Twitter chief executive Parag Agrawal has said that fewer than five percent of accounts active on any given day at Twitter are bots, but that analysis cannot be replicated externally due to the need to keep user data private.

About two dozen companies already pay to access the massive trove of internal Twitter data, which includes records of tweets along with information about accounts and devices used to fire them off, according to the Post.

Twitter declined to comment on the reports but has defended its responsiveness to Musk's requests, and vowed to complete the deal on the original terms.

The mercurial Musk agreed to buy Twitter in a $44 billion deal in late April.

Twitter's top legal officer has told employees that a special shareholder vote whether to approve the buyout deal could be held in late July or early August, according to Bloomberg.

Musk began making significant noise about fake accounts in mid-May, saying on Twitter he could walk away from the transaction if his concerns were not addressed.

Some observers have seen Musk's questioning of Twitter bots as a means to end the takeover process, or to pressure Twitter into lowering the price.

The potential for Musk to take Twitter private has stoked protest from critics who warn his stewardship will embolden hate groups and disinformation campaigns.

US securities regulators have also pressed Musk for an explanation of an apparent delay in reporting his Twitter stock buys.

Twitter shares finished the official trading day slightly above $40, significantly lower than the $54.20 Musk agreed to pay when he inked the purchase deal.


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India to Offer $4-$5 Bln in Incentives for Electronics Production, Weaning Off China

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India will offer up to $5 billion in incentives to companies to make components locally for gadgets from mobiles to laptops, two government officials said, in a bid to bolster the burgeoning industry and wean off supplies from China.
India's electronic production has more than doubled in the last six years to $115 billion in 2024, led by growth in mobile manufacturing by global firms such as Apple and Samsung. It is now the world's fourth-largest smart phone supplier.
But the sector faces criticism for its heavy reliance on imported components from countries such as China.
"The new scheme will incentivize production of key components like printed circuit boards that will improve domestic value addition and deepen local supply chains for a range of electronics," one of the two officials said.
The incentives are likely to be offered under a new scheme expected to be launched in two to three months, said the officials, who asked not to be identified as details of the scheme are not yet public.
The scheme is likely to offer incentives totaling between $4-$5 billion to global or local firms which qualify, Reuters reported.
The plan, designed by the India's electronics ministry, has identified components eligible for incentives and is in its final stages.
The finance ministry will approve the scheme's final allocation soon, the first official added, with the sources expecting it to be launched in the next 2-3 months.
India's electronics ministry and finance ministry did not immediately respond to requests for comment.
India is aiming to expand its electronics manufacturing to $500 billion by the fiscal year 2030, including production of components worth $150 billion, according to the government's top policy think tank Niti Aayog.
India imported electronics, telecoms gear, and electrical products worth $89.8 billion in the fiscal year 2024, with more than half sourced from China and Hong Kong, according to an analysis by private think tank GTRI.
"This scheme is coming at a time when it is critical to promote component manufacturing that will help us aim for a global-scale of electronics production," Pankaj Mohindroo, head of India's Cellular and Electronics Association, said.