Shares of Twitter fell by 9% during trading on Wednesday after a report on Recode said that Google does not plan to buy the micro-blogging platform. Twitter has reportedly told potential buyers that it wishes to complete negotiations to sell itself by October 27, when it will report its third-quarter earnings, according to Reuters.
The Recode report said that Google was not considering acquiring Twitter right now. It further said that both Apple and Disney were unlikely to make bids to buy Twitter either. Disney had previously considered making an offer. However, the report added that the communications-based social network was still looking to be bought out, with cloud computing company Salesforce.com being a possible bidder as well.
Twitter’s stock rose after CNBC on September 23 reported that it was likely to receive a formal buyout bid from major technology companies including Google and Salesforce.com. The report added that while Twitter’s board of directors are interested in a deal, “no sale is imminent”.
However, other officials were quoted as saying a deal could be reached as early as the end of this year. According to the Wall Street Journal, the company has reported eight straight quarters of declining revenue growth, the last one its lowest yet at 20%.
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