We are reader supported. External links may earn us a commission.

Apps

Twitter purportedly expresses interest in acquiring TikTok US operations

By Prakhar Khanna August 10, 2020, 2:44 am
TikTok

A few days ago, it was reported that US President was planning to ban TikTok in the country. Soon after, Microsoft confirmed that it is indeed exploring a purchase of TikTok in the United States. Now, the latest company to show interest in acquiring TikTok US operations is Twitter.

It is being reported (via Reuters) that Twitter has approached TikTok’s Chinese owner ByteDance to express interest in acquiring the US operations of the video-sharing app. However, Microsoft is still being seen as the front-runner in bidding for the app’s US operations.

Twitter has a market capitalization of close to $30 billion (23 billion pounds). It is almost as much as the valuation of TikTok’s assets to be divested. Hence, it would need to raise additional capital to fund the deal, according to the report.

Trump has mentioned that he’ll pass an executive order to ban TikTok in the US if the deal of a US company purchasing TikTok US operations doesn’t go through. In its statement, TikTok owner Bytedance hinted that it will take legal recourse to deal with the situation.

Latest Articles

Search