EU warns Elon Musk that Twitter must stick to digital rules – as it happened

Rolling coverage of the latest economic and financial news, including the latest on Elon Musk's takeover of Twitter

• Shares in Tesla sink 12%; Twitter closes lower
• Moody's may downtrade Twitter over deal
• EU: Twitter must stick to digital rules
• Jack Dorsey: Musk Is the Singular Solution I Trust' for Twitter
• CEO Parag Agrawal: We don't know what direction Twitter will go
• Human rights groups concerned about changes to moderation
• Elon Musk, world's richest man, reaches deal to buy Twitter for $44bn

Although Twitter's shares rallied over 5% yesterday to almost $52 each, they're trading below Musk's best and final' offer of $54.20 which Twitter has accepted.

That suggests there's some scepticism that the deal will definitely complete, says Russ Mould, investment director at AJ Bell.

The social media platform is currently trading at $51.92 despite the board agreeing to sell the company for $54.20 per share. This approximate 4% gap is the market's way of saying there is still some risk to the deal.

After all, Musk is one of the most unpredictable characters in business today and while his offer to buy the company came out of the blue and was recommended by the board in only a matter of weeks, this is not a done deal until he's secured all the necessary support from shareholders and the money has been wired from his account.

Twitter has a lot of passionate users and the company will have to work hard to try and retain them and attract new users if Musk lays out a regime that changes the way the platform operates.

Suggestions there will be a clamp down on bot accounts would be beneficial to users, but not everyone likes the idea of complete freedom of speech. An unmoderated platform could foster a toxic environment and see users leave in droves."