Officials of Joe Biden’s administration are set to hold talks on whether the U.S. should subject some of Elon Musk’s ventures to national security reviews, including the possible purchase of Twitter Inc. and SpaceX’s Starlink satellite network, Bloomberg reports. Shares in social media site Twitter fell as much as 16% in pre-market trading in New York.
The federal government is reportedly evaluating what instruments are available that would allow it to assess Musk’s companies. Bloomberg’s sources added that the conversations to review Musk’s ventures are still at the initial phase.
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One option is for Musk’s business activities to be examined by the Committee on Foreign Investment in the United States, which operates under the auspices of the U.S. Treasury Department.
The existence of foreign investors in Musk’s consortium is one aspect of the $44 billion Twitter transaction that could prompt a CFIUS probe.
Musk agreed to buy Twitter in April but a month later he announced his intention to withdraw from the purchase contract.
He then switched direction earlier this month, saying he will proceed with the deal on the original terms.
The CEO of SpaceX recently used Twitter to share ideas for resolving Russia’s war in Ukraine and to declare that SpaceX could no longer continue to fund its Starlink internet service in Ukraine. He later reconsidered his decision and declared he would continue to pay for the service.
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