Twitter has approached ByteDance, the Chinese owner of Tik Tok, expressing interest to buy over its U.S operations.
Report by the Wall Street Journal, it is not clear whether Twitter can afford and conclude the deal within a 45-day window set by the U.S Goverment.
Twitter has a market capitalization 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 sources.
Last week, U.S tech giant, Microsoft, showed interest in Tik Tok, to the extent that U.S President, Donal Trump, wanted a cut in the deal for the national treasury.
Reports say, 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.
Tik Tok, a popular video sharing company, with a Chinese background, has come under attacks by the U.S Government, placing a ban on its operations.