A few days ago, it was reported that US President was planning to ban TikTokTikTok in the United States. Now, the latest company to show interest in acquiring TikTok US operations is Twitter.
Twitter has a market capitalization of close to $30 billion (23 billion pounds). It is almost as much as the valuation of TikTok’s assets to be divested. Hence, it would need to raise additional capital to fund the deal, according to the report.
Trump has mentioned that he’ll pass an executive order to ban TikTok in the US if the deal of a US company purchasing TikTok US operations doesn’t go through. In its statement, TikTok owner Bytedance hinted that it will take legal recourse to deal with the situation.