CNBC "Final Sale Negotiations Underway... Announcement Expected Next Week"
[Asia Economy Reporter Kwon Jae-hee] The major U.S. retail chain Walmart is participating in the acquisition battle for the Chinese video application (app) TikTok.
According to the Wall Street Journal (WSJ) on the 27th (local time), Walmart is reportedly discussing cooperation plans with Microsoft (MS) to acquire TikTok.
In a statement, Walmart said, "We highly value TikTok's capabilities that integrate e-commerce and advertising," adding, "Acquiring TikTok will help us not only in the online and advertising markets but also in reaching internet-based consumers."
Walmart added that if it acquires TikTok as a partner with MS, concerns over national security threats from the U.S. government would also be alleviated.
TikTok's parent company ByteDance, which is facing the risk of being expelled from the U.S., is currently negotiating sales with MS, Oracle, and others.
MS was the first to express interest in acquiring TikTok, but recently Oracle, classified as pro-Trump, has emerged as a strong acquisition candidate with the support of President Donald Trump.
CNBC, citing sources, reported that TikTok's sale negotiations are approaching the final stages and that an announcement of a deal could be made as early as next week.
It is also known that Kevin Mayer's resignation as TikTok's CEO was originally scheduled to be announced alongside the news of the sale agreement next week.
Additionally, the source said that TikTok is expected to be sold for between $20 billion and $30 billion (approximately 23.7 trillion to 35.6 trillion KRW) by combining its businesses in the U.S., Canada, Australia, and New Zealand.
Currently, TikTok has not yet decided on a buyer and is still discussing proposals from the MS-Walmart consortium and Oracle.
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