Days after European Union's internal market chief warned of the bloc's strict rules for online platforms to tackle illegal content — Elon Musk said his plans for Twitter Inc. (NYSE:TWTR) are aligned with new EU rules.
What Happened: Musk, in a video posted on Monday by EU commissioner for the internal market — Thierry Breton — is seen saying, "I think we're very much of the same mind."
"Anything that my companies can do that would be beneficial to Europe, we want to do that," he added.
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Musk met Breton during the latter's visit to Tesla Giga Texas in Austin, where the two discussed the EU's new Digital Services Act, or DSA, which lawmakers agreed to last month.
Last week, European Union countries and lawmakers agreed upon a stringent regulation to curtail illegal content on online platforms. Under the new regulations, platforms like Alphabet Inc's (NASDAQ:GOOGL) (NASDAQ:GOOG), Google, Meta Platforms Inc's (NASDAQ:FB), Facebook and Twitter would have to initiate strategies to more effectively tackle illegal content.
Musk clinched a $44 billion deal to acquire Twitter and Breton had warned him to abide by the rules. "it will be up to Twitter to adapt themselves ... to our rules," Breton had said.
Price Action: According to data from Benzinga Pro, Twitter shares closed 3.69% lower at $47.96 a share on Monday.
