Elon Musk’s purchase of Twitter has materialized in the past few hours, and the first reactions to the change of ownership have already begun. One of the first speeches was given by European Commissioner Thierry Breton, who posted a tweet directed directly at Elon Musk, reminding him that “In Europe, the bird will fly by our rules“, Copying the message from the new owner of the platform announcing that “The little bird has been released“.
Britton’s message is meant to remind Musk of that Twitter can’t become no man’s land, But whoever adheres to the rules of the Digital Services Act, and bears all the responsibilities required by local legislation. To be fair, Musk himself immediately emphasized that the platform does not intend to transform itself into a place where chaos runs, but that it will adapt without any problem to the laws of accessible countries.
Meanwhile, we have a history of Twitter is no longer a public company. The New York Stock Exchange has already confirmed that the company’s shares will be withdrawn November 8thgiven that all Twitter shares will be owned by X Holding I, the company controlled by Musk that also owns X Holding II, or the company with which Twitter has already been acquired (a merger of the two).
This means that from now on There will be no more public quarterly statements or other information for shareholders, since the community is actually part of a private company that Musk will be able to run without worrying about having to deliver public financial results. Sure, the investors who funded the acquisition – including Morgan Stanley – had every interest that the entrepreneur could take the company to the black market, but that’s another story.