Walmart Joins Microsoft to Pursue Deal to Acquire TikTok
The move signals the retail giant’s interest to expand further into technology and media.
Walmart Inc has joined Microsoft Corporation in a bid to jointly acquire TikTok, reported Bloomberg on Thursday, 27 August.
The move, the report said, signalled the retail giant's interest to expand further into technology and media.
In an email statement, Chief Executive Officer Doug McMillon said that the two companies already work together as Walmart uses Microsoft’s cloud platform Azure to conduct its business.
Two weeks ago, Microsoft sought to buy the TikTok operations in North America, Australia and New Zealand for a “reported figure of $50 billion”.
However, according to an FT report, the Satya Nadella-run tech giant is aiming to buy the entire business of TikTok, including in India where it has been banned along with 58 other Chinese apps.
Microsoft "is exploring whether it can add regions including India and Europe to the deal". The software giant has been involved in the Chinese tech world for far longer than many rivals.
(With inputs from Bloomberg)
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