Elon Musk’s Bankers Reportedly Plan To Book Losses On Twitter Deal As Social Media Firm Undertakes Extreme Cost-Cutting
Banks that lent Twitter owner and CEO Elon Musk $13 billion to purchase the platform are reportedly preparing to book losses in the current quarter.
What Happened: The banks could do so in a way that does not impact their earnings in a major way, reported Reuters, citing three sources familiar with the matter.