Twitter in Talks To Buy Tiktok
According to a report by the Wall Street Journal, the acquisition talks between Twitter and Tik Tok is said to be in its prelusive stage. This is said to be as a result of the US President, Donald Trump's executive order, signed on the 6th of August.
The executive order entailed banning the popular app, Tik Tok - which is to take effect in 45 days, from the day it was signed. The executive order described the app as "a threat to national security, foreign policy, and economy of the United States." He has also demanded that a significant portion of the sale go to the US Treasury.
As far as we've known, Microsoft indicated interest in the acquisition of TikTok, before Twitter. Microsoft sait it was in talks to buy the company’s US, Canada, Australia and New Zealand operations, and is expected its talks to wrap by September 15th.
However on Thursday, Financial Times made a report that Microsoft seem to have expanded negotiations and now considers the acquisition of the app’s entire global operations.
"Any deal with Twitter would involve TikTok’s US operations", according to the Wall Street Journal.
However, in a statement by News18, Twitter is most likely unable to be TikTok’s final new owners in the USA, as analysts remain undecided about Twitter having financial capabilities to outrun Microsoft on the deal.
Reuters analyzed that according to the current situation, Twitter’s management would rather want Jack Dorsey’s Twitter to focus on expanding the operations of its core business, rather than acquiring a new medium and increase liabilities.
Twitter declined to comment. A TikTok spokesperson said the company does not comment on market rumors.
Source: TrendyBeatz
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