Twitter Twist In TikTok Takeover
SAN FRANCISCO: TikTok and Twitter have reportedly been involved in talks about a potential merger, according to the Wall St Journal. The new twist in the ongoing saga involving the Chinese video sharing app comes as the company prepares to defend itself against President Trump’s order to sell the business or face a ban because of security concerns.
Twitter and Bytedance have apparently had preliminary talks about a merger of TikTok’s US operations but, unlike Microsoft’s bid, the app’s Australian, Canadian and New Zealand operations would not be included in the deal.
Microsoft is still the favoured bidder for the app, because, unlike Twitter, it has the capital to buy the business at or near its market value of up to US$50 billion.
TikTok, meanwhile, is preparing legal action against Trump’s order to sell or be banned, which could begin early this week. The company says it was “shocked” by the order, claiming there has been “no due process or adherence to the law.”