Twitter calculated the cost of the conflict with
@Musk
The standoff between social network Twitter and
billionaire Elon Musk is costing the parties to the conflict dearly.
Twitter's Q2 financial statements include a comment that the social network incurred
$33 million in costs to prepare for a deal with
Musk.
The social network estimated that the
"uncertainty" caused by the
"deferred acquisition" cost it
1% of its quarterly revenue.
Twitter has made no secret of the fact that its costs will rise in light of the
pending litigation. It has already hired
Wachtell, Liptgon, Rosen & Katz LLP, a well-known law firm in the
U.S. market, whose lawyers must convince
Musk to stick to the original agreement and buy the company for
$44 billion.
@twitterShow more ...