'Giant' Amazon unexpectedly makes a last-minute bid to acquire TikTok

The New York Times reported on April 2 that the American e-commerce giant Amazon made a last-minute offer to buy the TikTok app as the app is facing the risk of being banned in the US if it does not divest from its Chinese owner before the April 5 deadline.

Citing a source familiar with the matter, the New York Times said the offer was made in a letter to officials involved in the deal but was not highly regarded.

The most feasible solution now, these sources said, is to allow US investors in ByteDance - TikTok's parent company - to transfer their stakes to a new independent TikTok company globally.

In addition, other US investors, including multinational computer technology corporation Oracle and private equity group Blackstone, may also join the TikTok investment list to reduce the ownership ratio of Chinese shareholders.

Currently, the majority of TikTok's US operations are hosted on Oracle servers, while Oracle Chairman Larry Ellison is a longtime ally of US President Donald Trump.

In a recent statement, President Trump said that the risk of TikTok being banned in the US is low and that a new owner for TikTok's US business could be found before the deadline.

On March 2, President Trump met with White House officials to discuss possible solutions.

Any deal to separate TikTok from its parent company ByteDance, however, would require approval from Beijing, and President Trump has floated the possibility of reducing tariffs on China as a way to push Beijing to agree to the deal.

During his first term, Mr. Trump supported a ban on TikTok, but now he defends the app, arguing that TikTok helps attract more young voters to support him in the November 2024 election.

The popular video -sharing app TikTok has more than 170 million users in the US and is facing the risk of being banned under a law signed into law last year, which requires TikTok to separate from ByteDance or cease operations in the US.

The ban was set to take effect on January 19, 2025, the day before President Trump’s inauguration, but Trump announced an extension allowing TikTok to continue operating until April 5. During the extension, TikTok must find a new, non-Chinese owner.

US media reported that many potential investors have expressed interest in TikTok, including real estate and sports billionaire Frank McCourt, artificial intelligence startup Perplexity and a group of investors including famous YouTube content creator MrBeast (real name Jimmy Donaldson)./.

(Vietnam+)

Source: https://www.vietnamplus.vn/ong-lon-amazon-bat-ngo-ra-gia-phut-chot-nham-thau-tom-tiktok-post1024561.vnp