Tesla and SpaceX CEO Elon Musk’s purchase of a 9% stake in Twitter is being investigated by the US Federal Trade Commission FTC.
According to a report by Reuters, Musk’s first Twitter share purchase is being investigated by the US Federal Trade Commission (FTC). The institution is looking at whether Musk complied with antitrust rules when making this purchase. The focus of the research revolves around whether Musk bought the stake to influence Twitter’s management or whether he was considering becoming a passive shareholder.
As we have mentioned before, Musk first bought a 9% stake in Twitter and then said that he would not join Twitter’s board of directors. Later, Musk made an offer to buy Twitter completely at $54.20 per share, and the company accepted Musk’s offer.
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