TikTok has chosen a buyer for US business, announcement could come tomorrow, says CNBC

Tiktok On Phone 2
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Email Twitter: @kipkniskern Aug 31st, 2020 inNews

CNBC is reporting that TikTok has chosen a buyer for its US, New Zealand, and Australia businesses, and an announcement could come as early as tomorrow. The price is expected to be in the $20-30 billion dollar range, with Microsoft, and/or a Microsoft/Walmart partnership, and Oracle in the lead for the winning bid. Over the weekend, another potential bidder emerged, but TikTok denied any knowledge of a bid from Triller, and it appeared to be a publicity stunt.

Even with a winning bid, new complications have arisen, with the Chinese government looking to slow the deal by including TikTok on an export technology list. TikTok said over the weekend that it would need a license from the Chinese government to sell to a US company.

A TikTok acquisition would provide valuable mobile data for Microsoft, and bolster the reputation of its Azure cloud services as being secure and robust. A Microsoft/Walmart partnership would continue to hedge against rival Amazon on both cloud and retail fronts, respectively.

We’ll keep you posted on all the TikTok news, stay tuned to OnMSFT for the latest.

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