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Google among potential suitors

Twitter in eye of predators as $30bn takeover looms

TwitterShares in Twitter leapt 20% after renewed speculation that it could be taken over.

Google and Salesforce.com are said to be looming over the loss-making social network which has been the subject of previous bid rumours.

US business news channel CNBC claimed that Twitter’s directors are open to a deal, which could come by the end of the year.

The company has been under pressure to find ways of re-igniting its growth after its user number flattened.

Twitter now has a market value of nearly $16 billion but it has declared that it does not expect to make a profit for some years. It could attract an offer of $30bn.

Twitter reported in July that second quarter sales had risen almost 20%, the weakest growth since its stock market flotation in 2013.

Co-founder Jack Dorsey took over as chief executive in July of last year after the previous boss, Dick Costolo stepped down.

The acquisition of the business networking site LinkedIn by Microsoft has fuelled rumours of more consolidation in the sector.

 

 



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