Banks optimistic Trump-Musk ties could aid sale of $13B Twitter debt held since 2022 purchase.

Wall Street banks are optimistic that Elon Musk's close ties to President-elect Donald Trump could help them sell off $13 billion in debt from Musk's acquisition of Twitter. The debt has been held by banks like Morgan Stanley and Bank of America since the $44 billion purchase in 2022, as Musk's changes to the platform scared off advertisers and lowered its value. The banks will evaluate Twitter's financial health after the next quarterly report to decide on the debt's future.

November 15, 2024
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