Walmart has confirmed it's in talks to join Microsoft's bid to acquire TikTok's US business. The retail giant said its business could benefit from TikTok's success in integrating e-commerce and advertising in other markets, helping it reach more online customers and grow its third-party marketplace and advertising businesses. Walmart said its partnership with Microsoft could not only meet the expectations of US TikTok users but also satisfy US government regulators.
TikTok's parent company Bytedance has been given until mid-November to exit the US market, after the government deemed the company a national security risk. TikTik has filed a court appeal against the ban, calling it politically motivated and without due process.
Microsoft confirmed in early August negotiations to buy the operations of TikTok in the US, Canada, Australia and New Zealand. The company said other US investors would be invited to participate on a minority basis. Microsoft would then set up security, privacy, and digital safety protections, with an operating model ensuring transparency to users as well as appropriate security oversight by governments in these countries.
Recent reports suggested other US tech companies may be interested in the takeover, including Twitter and Oracle. Oracle reportedly has the backing of US President Donald Trump and has offered USD 20 billion, half in cash and half in shares, The Wrap reported citing unnamed sources familiar with the talks.
