Elon Musk has notified Twitter that he is terminating his agreement to buy the social media group for $44bn, saying it failed to provide sufficient information on the number of spam and fake accounts.

The billionaire Tesla chief executive said in a filing Friday that Twitter was “in material breach of multiple provisions” of the sale agreement, and “appear[ed] to have made false and misleading representations”.

The number of spam and fake accounts was “wildly higher” than the 5 per cent disclosed by Twitter, according to preliminary analysis by Musk’s advisers, the filing claimed.

Musk has repeatedly said he was considering walking away from the deal to buy the social media platform, which he agreed in April. As part of the agreement he is required to pay a $1bn break-up free.



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