TikTok US business sale to Microsoft-Walmart or Oracle likely to be announced this weekend: Report
TikTok was initially given 90 days to handover its US business to any American company after President Donald Trump signed an executive order issuing a ban on grounds of national security.
August 29, 2020 / 08:59 AM IST
TikTok’s US business sale could be acquired by Microsoft-Walmart or Oracle in a couple of days. The announcement is likely to be made by the end of August, and the deal is unlikely to include TikTok’s Australia, New Zealand or Canadian arms.
TikTok was initially given 90 days to handover its US business to any American company after President Donald Trump signed an executive order issuing a ban on grounds of national security. Soon, Microsoft and a few other companies were rumoured to be interested in purchasing the US, Canada, New Zealand, and Australia assets of TikTok.
However, Fox Business reported that the Microsoft-Walmart or Oracle deal with TikTok was said to be limited to the US business only. “Why sell off assets when you don’t have to? That’s why the U.K. arm was never part of the sale,” sources said.
Moneycontrol could not independently verify the report.
Microsoft is likely to win the race of acquiring TikTok’s US business after Walmart confirmed that it would be partnering with the software giant. “Microsoft didn’t need Walmart. Initially, Satya Nadella wanted to go it alone,” one person with knowledge told Fox Business referring to the Microsoft CEO.
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Other players like Oracle, Silver Lake are also said to be in talks for the acquisition