Twitter shows interest in purchasing TiktTok’s U.S. operations

Published by Yamna Ali Sunday, August 9, 2020

The most widely used application TikTok after being banned in several countries, left the users saddened. However, some sources said that Twitter had approached Chinese-owned video-sharing application TikTok, to purchase its U.S. operations. But, many experts doubt Twitter’s financial resources for a good deal.

Microsoft’s acquisition talks with TikTok had already put President Donald Trump’s decision to ban the application at a halt for 45 days. Now the concern is whether Twitter has the ability to outbid Microsoft Corp and make a deal within 45 days or not? Wall Street Journal reported that Twitter and TikTok are having preliminary talks whereas, Microsoft is seen as the front-contender setting higher bids for TikTok’s U.S. operations.

The market capitalization of Twitter is around $30 billion, and it would need more funds to make a potential deal. However, one of Twitter’s shareholders is willing to aid the company for the deal.

President Trump said that he would support Microsoft has his support in buying app’s U.S. operations only if the State’s government gets a “substantial portion.” Otherwise, he has already announced the app to be banned on September 15th2020. Whereas Microsoft is making all the possible efforts to negotiate a deal by the mid of September.