Walmart Join Microsoft Caplok TikTok

JAKARTA - Microsoft is getting serious about acquiring the TikTok business. Even Walmart franchise stores are joining Microsoft's business coalition to acquire assets from the Chinese short video platform.

The plan was disclosed hours after TikTok CEO Kevin Mayer resigned. The former Disney chief left TikTok after three months of joining the short video app.

TikTok is currently in the middle of negotiations to sell US operations to Microsoft and Oracle. TikTok owner ByteDance plans to enter into exclusive talks with them within the next 24 to 48 hours, and sign the deal on September 15.

The sale of TikTok occurred because the Chinese company came under fire from the administration of US President Donald Trump for being considered a risk to national security regarding users' personal data.

The Trump administration asked ByteDance, which owns TikTok globally, to sell its US operations. Earlier this week, TikTok sued a policy that effectively banned TikTok from operating in the US.

Walmart lauds TikTok's integration with e-commerce and advertising capabilities in other markets. The retail company said a three-way partnership could bring integration to the United States.

The deal will help Walmart reach customers across both virtual and physical sales channels, as well as develop its online marketplace and advertising business. Walmart shares are reported to have risen 6 percent.

"We are confident that the partnership between Walmart and Microsoft will meet the expectations of US TikTok users while meeting the concerns of US government regulators," said a Walmart spokesman.