Elon Musk’s Twitter will have to “adapt” to EU rules, says EU Internal Market Commissioner Thierry Breton after the company was bought out by the world’s richest man.
“Whatever the new shareholding, Twitter will now have to adapt completely to European rules,” says Thierry Breton, referring in particular to the new regulation on digital services, Digital Services Act (DSA), concluded on Saturday by the legislators of the EU and which will force the major platforms to better fight against illegal content.
Same story for the Secretary of State for Digital, Cédric O, who estimated shortly after the announcement of this takeover that “there are interesting things in what Elon Musk wants to boost for Twitter, but remember that the Digital Services Act – and therefore the obligation to combat misinformation, online hate, etc. – will apply regardless of the ideology of its owner”.
“Freedom of expression is the bedrock of a functioning democracy”
The boss of Tesla and SpaceX has reached a definitive agreement with the board of directors of Twitter to buy the social network at a price of 54.20 dollars per share, and make it a private company, not listed on the stock exchange. The richest man in the world therefore becomes the owner of the platform he announced he wanted less than two weeks ago, and despite the initial opposition displayed by the council.
“Freedom of expression is the bedrock of a functioning democracy, and Twitter is the digital public square where issues vital to the future of humanity are debated,” said Elon Musk, quoted in the Twitter statement.
The action of the group, listed on the New York Stock Exchange, was suspended just before the publication of the press release. It was close to 52 dollars, taking more than 6% around 5 p.m. GMT, thanks to rumors of an imminent acquisition in the American press. Elon Musk said last week that he had secured $46.5 billion to complete the acquisition through two bank loans from Morgan Stanley, as well as his personal fortune.