Walmart has joined to Microsoft in an attempt to buy TikTok’s assets in the United States

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Walmart has joined to Microsoft in an attempt to buy TikTok’s assets in the United States

31.08.2020 News

American Walmart announced its decision to join Microsoft and to participate together in the struggle for the acquisition of Chinese business TikTok in USA, Canada, Australia and New Zealand. “The way, how TikTok has integrated e-commerce and advertising capabilities in other markets, will be a clear advantage for creators and users in the particular markets,” – CNBC TV channel quoted a statement made by the representative of Walmart.

“We believe that Walmart and Microsoft partnership will not only meet the expectations of users TikTok in US, but also to satisfy the interests of the US regulatory authorities “, – said the representative of the retail giant.

According to the sources, cited by the TV channel, the amount of the transaction to purchase TikTok’s assets in the US, Canada, Australia and New Zealand will range from $ 20 billion to $ 30 billion. Chinese ByteDance, which owns social networks have not yet chosen a buyer, but may announce the deal in the coming days.

Chinese TikTok owner must get rid of assets in the United States before September 15 – such a deadline was set by US President Donald Trump. Earlier in August, Microsoft announced that it was negotiating the purchase of the TikTok business. Oracle, Twitter and Netflix have also expressed interest.

The buyer of the TikTok business will have access to hundreds of millions of users: this week, TikTok announced that the audience of the service in the US exceeded 100 million monthly active users, which is almost 800% more than in January 2018. Shares of Walmart due to the news together with Microsoft attempted to buy TikTok increased by 5.7%.

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