Walmart wants to buy TickTock jointly with Microsoft

 Walmart wants to buy TickTock jointly with Microsoft

US President Trump has accused China of smuggling information and wanted to ban it. He initially turned down Microsoft's offer to buy US shares of TickTock. But his advisers were able to convince him that such a decision would provoke a backlash among young voters. Because many of them are Trump supporters, as well as TickTock users. Trump listened to the advisers and approved the purchase of Microsoft's TickTock.

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Microsoft is now one of the potential buyers of TickTock. However, Walmart has also expressed interest in buying Tiktok's US business jointly with Microsoft.

Kevin Meyer, chief executive of Tiktok, resigned on Thursday (August 26th). The decision was announced by Walmart within hours. In addition to Microsoft, Twitter and Oracle are also interested in buying TickTock.

In a statement, Walmart said it would be able to reach a large number of customers if it could jointly purchase the US business with Microsoft. The partnership between Walmart and Microsoft will be able to meet the expectations of TickTock users in the United States. It will also gain the trust of US government regulators.

Donald Trump has signed an executive order saying no financial transactions can be made with ByteDance, a Chinese company owned by Tiktok, since mid-September. Within days of announcing legal action to challenge the ban, Tiktak's chief executive stepped down. For now, Mayer will be replaced by Vanessa Pappas, the company's general manager.

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ByteDance continues to grow in the United States, Canada, Australia, and New Zealand. The company wants to finalize the agreement by September 15. These transactions could amount to 20 to 30 billion.

TickTock, a video-sharing app owned by Chinese ByteDance, has been under discussion for the past few months. India has banned the popular Chinese mobile app, calling it a threat to the country's security in the wake of the conflict in Galway, East Ladakh. Several other Chinese apps were also banned. Then the United States decided to follow the same path.

The Donald Trump administration alleges that BiteDance is smuggling all information of US citizens to China through TickTock. However, the company has repeatedly denied the allegations. However, it did not help.