Chinese tech giant ByteDance may be ready to give up its control of TikTok after all, with a new report Monday saying the social networking app’s sale may be finalized tomorrow.
A deal for TikTok’s US, New Zealand and Australian operations is expected to be announced “as soon as Tuesday,” CNBC reported Monday, citing sources who wished to remain anonymous. It is unclear how China’s new rules on exporting technology might impact the deal.
So far, Microsoft , Oracle and “a third US company” have made bids on TikTok, CNBC reported last week, noting that retail giant Walmart said it’s teaming up with Microsoft for its bid. That report also said TikTok’s US, Canadian, Australian and New Zealand businesses are valued at up to $30 billion.
Walmart said in a statement that it believes TikTok’s integration with advertising is a “clear benefit to creators and users in those markets” and offers an opportunity to bring a new spin to e-commerce.
“We believe a potential relationship with TikTok US in partnership with Microsoft could add this key functionality and provide Walmart with an important way for us to reach and serve [different types of] customers as well as grow our third-party marketplace and advertising businesses,” Walmart said in the statement.