A PYMNTS Company

EU’s Vestager Doesn’t Care Who Owns Twitter, As Long As They Follow The Rules

By  |  April 27, 2022

European Competition Commissioner Margrethe Vestager does not care who owns Twitter as long as they obey the rules, she told German newspaper DieZeit today.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    “Things would only get problematic if Elon Musk were to buy several social networks,” the newspaper quoted Vestager as saying.

    Earlier this week Twitter said it was selling the platform to billionaire entrepreneur Elon Musk in a deal valued at $44 billion.

    The sale was a dramatic shift for the board, which had originally maneuvered to block Mr Musk from taking the social media network private.

    “Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” Mr Musk said in a joint release announcing the takeover.

    He had taken a major stake in the firm earlier this month before lining up last week some $46.5 billion in financing to push forward with the purchase.

    The deal will shift control of the social media platform populated by millions of users and global leaders to the world’s richest person.

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.