Walmart and Microsoft might seem like an unlikely partnership to acquire TikTok’s U.S. assets, but until very recently the retailer had other plans, CNCB reports. The deal structure would have had Walmart as the lead buyer, with SoftBank and Alphabet acquiring minority stakes. Walmart confirmed its partnership with Microsoft Thursday, releasing a statement stating its interest in TikTok’s e-commerce and advertising capabilities. TikTok hasn’t decided between the Microsoft-Walmart bid and a rival offer from Oracle, according to people familiar with the matter. TikTok, SoftBank and Alphabet declined to comment on the deal talks.

Source: The Standard August 28, 2020 02:03 UTC