There are three main obstacles that need to be overcome before Musk can complete his purchase of the micro-messaging service.
Musk wants to buy Twitter for $44 billion, a huge acquisition that will have huge implications for the social media world.
Musk threatened to walk away from the deal due to concerns over the number of fake accounts on the platform. If he were to abandon the deal, he would face a $1 billion breakup fee.
Musk said there were unresolved matters that needed to be solved before he could move forward with the takeover.
Musk is concerned about the number of fake accounts on the social networking site. Musk wants more clarity from the company on how many of its users are genuine.
The number of false or fake accounts is less than 5% of the total number of users. It is questionable if Musk is right. He said on Tuesday that it is probably not most people's experience when using the social networking site.
He said that the matter is a very significant one.
The independent board chair of the company said last week that management remained committed to the deal.
The portion of debt needed to finance the transaction is one of the major obstacles facing it.
Musk said in May that he would pay $33.5 billion in cash. He has received $7.1 billion in equity financing from investors.
The rest of the funding will come in the form of bank loans, but how this will play out remains unclear. Musk has a lot of his wealth tied up in his company. He pledged billions inTesla shares as security for the loans
The approval from the shareholders is the last hurdle for Musk. The deal is expected to be voted on by investors in the summer.
It's not clear whether or not Musk will get enough shareholder support to buy the company. A group of shareholders sued Musk and the company over the way the process was handled.
Is the debt part of the round coming together? Will the shareholders approve it? He said Tuesday.
There are three things that need to be resolved before the transaction can be completed.
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