News

Twitter, TikTok In Preliminary Merger Talks: Report

0

Twitter has reportedly expressed interest in acquiring Chinese-owned social video app TikTok’s US arm. The popular video-sharing app has been the focus of much debate in the recent few weeks over takeover talks.

Last week, President Trump ordered US firms to stop doing business with ByteDance-owned TikTok within 45 days citing security concerns.

Although Twitter had preliminary talks with TikTok about the merger, it reportedly remains unclear whether the former can close the deal within the 45-day window. “It is unclear whether Twitter will pursue a deal with TikTok, which would face significant challenges,” said a report by the Wall Street Journal.

Earlier this month, President Trump gave the go-ahead for Microsoft to pursue its acquisition of Chinese-owned video app TikTok. The confirmation came hot on the heels of Microsoft’s official statement that it was “prepared to continue discussions to explore a purchase of TikTok in the United States.”

Retreating from his previous comments about banning TikTok in the US, Trump had said that the acquisition of the popular video app would have to be completed by 15 September.

Microsoft said that the company was committed to acquiring TikTok “subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury.”

Microsoft added that the company planned to move quickly to pursue discussions with TikTok’s parent company, ByteDance, in a matter of weeks, and in any event completing these discussions no later than September 15, 2020.