Twitter shares dive 20% as Google and Disney back away from bids

07/10/2016

Twitter's share price lost a fifth of its value on Thursday after rumours that Google and Disney and are backing down from making a bid for the company.

for-sale-twitter.jpg

Other unconfirmed parties who are said to be mulling their positions include business cloud software firm, Salesforce and Microsoft.

The sell-off began after technology news website Recode reported that Disney and Google-owner Alphabet were not bidding for the messaging service.

It said the information came from sources close to the situation.

Rumours have been circling for weeks that Twitter, which has never made an annual profit, was putting itself up for sale as it continues to battle weak user growth.

Recode added it had been told that Apple was not interested either.

None of the companies linked to Twitter interest have given public statements to confirm any talks.

Twitter stock jumped last month when news of bid interest first emerged.

<< Back to today’s Digital Intelligence news

Copyright ©2000-2019 Digital Strategy Consulting Limited | All rights reserved | This material is for your personal use only | Using this site constitutes acceptance of our user agreement and privacy policy