Twitter joins talks with TikTok's owner ByteDance to acquire its US operations as Microsoft makes bid for its global operations
In this file illustration photo taken on May 27, 2020, a Twitter logo is displayed on a mobile phone on May 27, 2020, in Arlington, Virginia. to express interest in acquiring the US operations of the video-sharing app.
It's far from certain that Twitter would be able to outbid Microsoft Corp and complete such a transformative deal in the 45 days that US President Donald Trump has given ByteDance to agree to a sale, sources told Reuters on Saturday.Twitter has a market capitalisation of close to $30 billion, almost as much as the valuation of TikTok's assets to be divested, and would need to raise additional capital to fund the deal, according to the sources.
"If it tries to put together an investor group, the terms will be tough. Twitter's own shareholders might prefer that management focus on its existing business", he added. Twitter has also privately made a case that its bid would face less regulatory scrutiny than Microsoft's, and will not face any pressure from China given that it is not active in that country, the sources said.
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