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Elon Musk to proceed with Twitter deal

Twitter shares have been suspended following a report that Elon Musk will proceed with a takeover of the social media platform.

BBC cites sources as confirming to US media that Mr Musk is set to buy Twitter at the original price he offered months ago before he walked away from a deal.

Shares in Twitter were up almost 13% before trading was halted.

Mr Musk was due to face Twitter in court later this month after he tried to pull out of the takeover.

He offered to pay $54.20 per share for the company in April, in a deal that valued the social media platform at $44 billion.

But he backed out of the deal just a few weeks later, citing concerns that the number of bots on the platform was higher than Twitter claimed.

Twitter denied the accusations and sued Mr Musk to force the deal to go through.

Writing by Omotola Oguneye; Tony Okerafor