FTC opens probe into Elon Musk’s Twitter stake purchase

The Federal Trade Commission is probing Tesla Inc Chief Executive Elon Musk’s initial 9% stake purchase in Twitter Inc.

The FTC is looking into whether Musk complied with an antitrust reporting requirement when he bought his stake in the social media company in early April.

The focus of the inquiry is whether Musk bought the stake to influence Twitter’s management or if he looked to be a passive shareholder.

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