The retail giant said it was teaming up with Microsoft, which has been negotiating for weeks to buy the popular Chinese-owned video app.
SAN FRANCISCO — The race to buy TikTok took another turn on Thursday when Walmart said it was teaming up with Microsoft on a potential bid for the popular Chinese-owned video app.
The discussions are ongoing and other suitors for TikTok are involved, said two people close to the deal talks, who were not authorized to speak publicly. It is unclear which companies will ultimately secure a deal, though TikTok will likely make a decision in the coming days, they said.
In a statement, Walmart said, “We are confident that a Walmart and Microsoft partnership would meet both the expectations of U.S. TikTok users while satisfying the concerns of U.S. government regulators.”
TikTok declined to comment and Microsoft did not immediately respond to a request for comment. CNBC earlier reported Walmart’s participation.