US says it will review security of Elon Musk’s transactions, including Twitter (NYSE:TWTR)
Scott Olson / Getty Images News
The Biden administration is said to be considering if some of billionaire Elon Musk’s deals are subject to a national security review, including his $44 billion plan to buy Twitter.NYSE:TWTR) and SpaceX’s (SPACE) Starlink satellite network.
The administration is said to be concerned about Musk’s recent threat to stop providing Starlink satellite services to Ukraine and Tesla (TSLA) The CEO’s stance on Russia, according to a Bloomberg report.
US officials are said to be concerned about Musk’s plan to buy Twitter (TWTR), including a group of foreign investors, according to the report. The discussions are said to be at an early stage as US officials consider legal options.
Officials are said to be looking into potential ways that could enable a review of the transactions, including using the Commission on Foreign Investment in the United States, or CFIUS, Bloomberg said.
The latest Musk news comes after the Washington Post reported on Thursday that Musk told potential investors on Twitter (TWTR) that he plans to cut about 75% of the social media giant’s headcount
Plans to close Musk’s $44 billion acquisition of Twitter next Friday are proceeding in good faith after months of legal wrangling, According to the report.
