Number 10 says Elon Musk must ‘protect users’ after Twitter buyout
Downing Street has said that Twitter must continue to “protect consumers” after Elon Musk’s impending buyout of the social media giant.
Boris Johnon’s spokesman today told journalists that “it is too early to say what if any changes will be made to how Twitter operates”, but that “all social media platforms must be responsible”.
Twitter’s board agreed to a $44bn (£34.5bn) sale to the world’s richest man yesterday.
There has been widespread speculation that Musk will water down the platform’s rules around content moderation, after he said in a statement yesterday that “free speech is the bedrock of a functioning democracy”.
Johnson’s spokesman said: “I think regardless of ownership, all social media platforms must be responsible. And that includes protecting their users from harm on their sites.
“Obviously, it is too early to say what if any changes will be made to how Twitter operates. It remains an important tool. It’s used by world leaders and we will continue to work with them to make sure it continues to improve.”
Musk had been angling for a takeover of the firm since revealing a nine per cent stake earlier this month, and Twitter bosses confirmed yesterday that they had give the deal the green light.
Under the terms of the agreement, Twitter shareholders will get $54.20 in cash for each share of Twitter common stock that they own upon closing of the deal.
The purchase price represents a 38 per cent premium to Twitter’s closing stock price on April 1, 2022, which was the last trading day before Mr. Musk disclosed his approximately nine per cent stake in the firm.