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Asharq Al-Awsat
Asharq Al-Awsat
Technology
Asharq Al-Awsat

Filing Says Elon Musk to Borrow Less in Twitter Bid

Elon Musk acknowledged his bid to buy Twitter may fail, but said he has a "plan B" - Copyright POOL/AFP/File Britta Pedersen

Elon Musk notified US regulators on Wednesday that he will rely less on loans in his bid to buy Twitter, as he and partners put $33.5 billion into the deal.

Twitter shares climbed more than 5 percent on the news, as the market evidently took it as a sign the acquisition is moving forward despite Musk declaring it on "hold" due to his concerns about the number of accounts that might be software "bots" instead of real people.

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