TikTok was one of the most popular short video platform. Tik Tok is currently banned in India, due to security reasons. After the TikTok ban so many companies are ready to buy TikTok.
Twitter is also express interest to buy TikTok. Today I am explaining to you about Twitter’s interest to buy TikTok. Read this post till the end to know more about this.
Twitter Inc is the Us of video-sharing app TikTok’s Chinese boss has contacted Bytdance to express interest in acquiring the operations. Two people familiar with the matter told Reuters, as experts doubted twitter’s ability to finance the potential deal.
Here is the full detail about Twitter’s Interest to buy TikTok.
On Saturday, sources said that it was certain that Twitter would beat Microsoft Corp and could complete such a transformative deal in 45 days. The news of Twitter and TikTok being in preliminary talks and Microsoft is still the app’s US. It is being seen as a front-runner in bidding for operations, previously according to the Wall Street Journal.
According to sources, Twitter has a market capitalization of around $ 30 billion (23 billion pounds), which is equivalent to the valuation of TikTok’s assets. It needs to raise additional capital for the deal. Eric Gordon, a professor at the University of Michigan, said, Twitter will have a difficult time when it will get enough funding to acquire TikTok’s US operations. It doesn’t have enough borrowing capacity.
If it tries to put together an investor group, the conditions will be tough. Twitter’s own shareholders may prefer that management focus on their existing business. According to Sources one of Twitter’s shareholders, private equity firm Silver Lake, is expressing interest in helping the fund in a possible deal.
According to the Sources Twitter has also said privately that its bid will face less regulatory scrutiny than Microsoft. It will not face any pressure from China, as it is not active in that country. TikTok, ByteDance, and Twitter declined to comment.
TikTok has come under fire from US lawmakers over national security concerns over data collection. Trump revealed a ban on US transactions with the China-based owners of messaging apps. WeChat and TikTok, leading to increased tensions between the two countries.
Trump said that this week he was in the US of Microsoft’s TikTok, would support efforts to buy the operation if the US government received a substantial portion of the proceeds. Still, he said that he would ban the popular app on 15 September. Microsoft said on Sunday that it was aiming to conclude negotiations for a deal by mid-September.