After the Supreme Court retained the upcoming SAIL-or-Bain Act, O’Lery Ventures President Kevin O’Lery joined the US News Room to discuss his efforts to buy Tikok.
Amazon has bid Acquire Ticketkok Since the popular social media app is faced with a spectacular time frame to divide it by its China-based owner or one has to face a ban in the US that comes into effect this month.
An official of the Trump administration on Wednesday told Reuters that the e-commerce giant made a bid to buy Tikok, which was before the Lump ban.
the new York Times It was previously reported, citing three people familiar with the case, that Amazon made a last minute bid to acquire Tiktok in his entirety. However, those sources told the outlet that the parties involved in the discussion are not seen taking Amazon’s dialect seriously. According to the report, the proposal was given to Vice President JD Vance and Commerce Secretary Howard Lutnik.
The Congress enacted a law last year that would ban an app like Tiktok which is owned by institutions located in adverse countries such as China, Russia, Iran and North Korea after a period of 270 days. chairman Donald Trump It is said that he wants to find a way to keep the app operated in the US and signs an executive order, allowing that partition window to give extra time to come together. Their expansion gives the company to make a deal by Saturday.
Time limit to consider the final proposal for Trump Tiktok
Tikok has to face a spectacular time frame to divide by its Chinese ownership or to face the US restriction. (Through Yan Kang / Bloomberg / Getty Image)
Fox Business reached Amazon and the company refused to comment on the report that it was interested in buying Tikkok.
Other potential suicides for Tiktok include a group called Project Liberty, headed by billionaire Frank McCourt and Kevin O’Lery.
Tiktok has opposed push to sell, in part due to protest in part Chinese governmentWhich has the right to block the sale of China-based firms.
Trump says that he can reduce China’s tariff on some condition
Tiktok CEO Shou Zi Chew attended the inauguration of President Donald Trump. (Sean Thew/Pool/AFP Getty Image/Getty Image)
Fox Business’ Charlie Gaparino said that there is a tiktok deal on the table that will build a new -owned company in the US, however Investors are worried Regarding liability provisions in the law that restricts apps such as Ticketkok that can take time to address and require additional delays.
Under the proposed deal, Chinese owners of Tikokk will be maintained minority stake Less than 20% under the new corporate structure. The source code of the app will remain the one that was built with its Chinese ownership, although it will be monitored in the Oracle Cloud to prevent espionage.
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Under that proposal, the price tag of Tikok will be $ 40 billion with the current source code, or with $ 20 billion if it is removed from the potential deal.
Reuters contributed to this report.
