It’s really kind of dampened expectations for growth across Europe in particular. So it really shows the kind of substantive impact from the war in Ukraine, which has led to, you know, much higher global energy and food prices. The one thing is that for financing markets to step up for Elon to make a bid with traditional debt capital, it does seem like he’ll have to work with another private equity firm because it’s really those, the private equity firm, that’s going to give the lenders more confidence to lend against a company like Twitter that doesn’t have a boatload of cash flow. He still has, you know, a stake in Tesla worth hundreds of billions of dollars. Well with Elon, it seems like anything’s possible. So Antoine, does this mean a deal is dead if, you know, Musk can’t get PE backers? So it’s a fairly tough company to underwrite just because it’s just not reached the level of profitability that some of the ubiquitous social media peers that are out there. For years, we’ve been talking about how hard it has been for Twitter to make the kind of profits that we’ve seen out of Facebook and even LinkedIn after Microsoft’s bought it. Well, I think overall, Twitter is a fairly challenging company to underwrite. The FT’s Antoine Gara explains why private equity giants like Blackstone are hesitant.
Problem is, the CEO of Tesla and SpaceX can’t pay for it all, and the firms that have the financial firepower to help him don’t seem that interested. I’m Marc Filippino, and here’s the news you need to start your day.Įlon Musk has been causing quite the stir with his attempt to buy the social media site Twitter. Plus, we’ll find out how Israel is managing its biggest influx of immigrants in 30 years. The International Monetary Fund slashed its forecast for global growth. Elon Musk still wants to buy Twitter, but it’s not clear who will back his $43bn bid.
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