Moneycontrol
Get App
you are here: HomeNewsWorld
Last Updated : Oct 06, 2016 08:12 AM IST | Source: Reuters

Twitter drops 9% after report that Google won't bid

Citing sources it did not identify, Recode also said that Apple was unlikely to be one of the possible suitors.


Shares of Twitter slumped 9 percent after Recode reported that Google, owned by Alphabet, would not move forward with a bid to acquire the social network.


Citing sources it did not identify, Recode also said that Apple was unlikely to be one of the possible suitors.


Twitter has told potential buyers it wants to conclude negotiations about selling itself by the time it reports third-quarter earnings on October 27, people familiar with the matter told Reuters.

Close

Salesforce.com Inc is in the running, while Alphabet and Walt Disney Co have also contemplated bids, the people told Reuters.


Twitter's stock was last down 9.21 percent in after-hours trade at USD 22.58.

The company has struggled to generate revenue growth and profit, despite having some 313 million average monthly active users and a growing presence as a source of news.



Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Oct 6, 2016 08:12 am
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant