Microsoft may have a surprising bid partner in its pursuit of TikTok

Microsoft appears to have a new partner in its pursuit of TikTok, Walmart. The retail behemothic confirmed to CNBC that it is teaming up with Microsoft in a bid for TikTok.

According to sources that spoke with CNBC, Tiktok is close to an agreement to sell its operations in the U.S., Canada, Australia, and New Zealand. The deal is likely to exist worth $20 billion to $30 billion, according to CNBC'due south sources.

According to previous reports, TikTok could be sold in or around the next 48 hours.

Microsoft is in competition with Oracle to purchase TikTok, but the potential add-on of Walmart to a bid could bear on how things movement forward.

Walmart said in a statement:

We believe a potential relationship with TikTok US in partnership with Microsoft could add this fundamental functionality and provide Walmart with an of import mode for us to reach and serve omnichannel customers also as grow our third-party marketplace and advertising businesses ... We are confident that a Walmart and Microsoft partnership would meet both the expectations of US TikTok users while satisfying the concerns of U.s.a. regime regulators.

It's unclear at this time how Walmart would utilize TikTok if it was successful in purchasing the company. Walmart did tell CNBC that TikTok's integration of e-commerce and advertising "is a clear benefit to creators and users in those markets."

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