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Musings From Abroad

Twitter initiates talks with Elon Musk over his $43b takeover bid

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The board of microblogging giant, Twitter, has reopened talks for a takeover by billionaire Tesla Chief Executive Officer, Elon Musk, after his initial bid was rejected.

On April 14, shortly after becoming Twitter’s single largest shareholder by buying 9.2 percent of its stock, Musk had announced an offer to buy the social media platform for $54.20 per share, or about $43 billion, but did not say at the time how he would finance the acquisition.

The announcement was said to have put serious pressure on the board to negotiate a deal but after rejecting the bid, the two sides are now open to a negotiation and as at Monday morning, were discussing details including a timeline and fees if an agreement was signed and then fell apart.

Shortly after Musk, the world’s richest man according to Forbes and founder of SpaceX, a privately held space company, announced the takeover bid, Twitter had enacted an anti-takeover measure known in international business circles as the “poison pill” that could make a takeover attempt prohibitively expensive.

But now, it appears the Twitter board has decided to negotiate after Musk updated his proposal to show he had secured financing.

While announcing the bid, Musk, said in documents filed with U.S. securities regulators that the money would come from Morgan Stanley and other banks, some of it secured by his huge stake in Tesla, the electric car maker.

He had hinted that he wanted to buy Twitter because he doesn’t feel it was living up to its potential as a platform for free speech while in recent weeks.

He had also promised a number of changes for the company, from relaxing its content restrictions such as the rules that suspended former President Donald Trump’s account, to ridding the platform of its problems with fake and automated accounts.

Musings From Abroad

Despite heavy security presence, Libyan protesters step up campaign, vow to continue demonstrations

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Libyan protesters have vowed to step up its campaign and continue with their demonstrations until all the ruling elites quit power and pave way for elections.

The protests which began on Friday, saw the burning of the country’s parliament building in Tobruk when a large crowd broke through the security and set the building on fire.

The incident prompted the government to release thousands of security personnel into the streets but the demonstrators were not deterred as they defied the presence of the forces on Saturday and Sunday by holding rallies in Tripoli, Tobruk, and Benghazi, and other major cities in the North African country.

While addressing the protesters, leaders of the movement said they would step up its campaign from Sunday, urging demonstrators to set up tents in city squares and practise civil disobedience until they achieve their goal of ousting political institutions and holding new elections.

Libyan Observer reports that the protesters held their biggest rally in Tripoli for years, chanting slogans against the feuding political elites, as demonstrators blocked off roads in Benghazi and Misrata and set fire to government buildings in Sebha and Qarabuli.

The media also reported that despite pleas by United Nations Secretary General Antonio Guterres, the demonstrators are bent on going on with their daily protests until they force the ruling elites out.

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Musings From Abroad

US commends Kenya’s effort at resolving Rwanda/Congo tension

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The US has praised Kenya’s President, Uhuru Kenyatta for his effort at resolving tensions between East African neighbour, DR Congo and Rwanda.

US Secretary of State Antony Blinken spoke with President Kenyatta in a phone call on Thursday describes Kenya’s move as the best approach to end armed conflict in the troubled east of the country.

The US State Department Spokesman Ned Price said of the phone call, that “Secretary Blinken expressed his appreciation for the Nairobi process, which has brought together the leadership of the DR Congo, Rwanda, Uganda, Burundi, South Sudan and Tanzania.

“The Secretary noted these heads of state meetings are instrumental for facilitating the de-escalation of regional tensions, and in particular between the DR Congo and Rwanda.”

The acrimony between the countries was pronounced last month when Rwandan military authorities accused the armed forces of neighboring Democratic Republic of Congo of cross-border attacks.

Kenyan President, Uhuru Kenyatta, last week called on the East African regional bloc to deploy East African force to the troubled eastern Democratic Republic of Congo to restore security following renewed fighting between government forces and the M23 rebels which has seen thousands killed and displaced since the resumption of hostilities.

Although the move to deploy the forces has been commended by the US, United Nations and the African Union, Congolese politicians and the public have expressed reservations about the proposed deployment of peace troops. They said the East Africa Standby Force (EASF) would be duplicating roles of the UN Mission (Monusco) as well as other existing interventions currently on the ground.

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