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There Is Another Suitor For Tiktok: Twitter
According to a report in Reuters, there is another suitor for TikTok: Twitter.
Yazar: Tom Roberts
Yayınlanma: 11 Ağustos 2020 22:13
Güncellenme: 24 Aralık 2024 06:28
There Is Another Suitor For Tiktok: Twitter
US President Donald Trump allowed ByteDance until September 15 to sell the US part of TikTok. Negotiations have been going on for this sale between technology giant Microsoft and ByteDance for a while. According to a report in Reuters, there is another suitor for TikTok: Twitter. The company, which is among the most popular social media platforms in the world, has started pre-negotiations. However, according to experts, Twitter does not have the economic power to make such a big purchase! It was noted that all of Twitter's asset values were approximately $ 30 billion, which was allocated to the US section of TikTok. Twitter needs to increase the capital to make this purchase. Professor Erik Gordon, from the University of Michigan, said, ““Twitter will have a hard time putting together enough financing to acquire even the U.S. operations of TikTok. It doesn’t have enough borrowing capacity. If it (Twitter) tries to put together an investor group, the terms will be tough. Twitter’s own shareholders might prefer that management focus on its existing business.”The most important advantage of Twitter over Microsoft is that it does not do business in China
However, a source told Reuters that Silver Lake, a private equity firm among the shareholders of Twitter, would help fund a potential deal. The most important advantage of Twitter over Microsoft is that it does not do business in China. Therefore, there is no worry of any pressure from China waging a trade war with the US.
ByteDance, which has to sell TikTok's operations in this country until September 15, when it will be banned in the USA, needs to make a decision as soon as possible. Microsoft made a statement before Twitter kicked off and said they hoped to reach an agreement with ByteDance by mid-September.
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