Amazon submits last-minute bidding to buy tiktok before U.S. ban deadline

Trump administration officials said Wednesday that Amazon has proposed to buy Tiktok because the U.S. ban on the platform will take effect on Saturday.
The official, who has no right to comment publicly and speak on anonymously, said Amazon’s offer was made in a letter to Vice President JD Vance and Commerce secretary Howard Lutnick.
Donald Trump gave the platform a probation on the day of the inauguration, allowing the Supreme Court to unanimously upheld law to avoid a law that says the injunction is necessary for national security.
By law, Tiktok’s Chinese parent company, Brutal, must sell the platform to an approved buyer or offline in the United States. Trump suggested he could further extend the ban pause, but he also said he hopes to reach a deal on Saturday.
People said the company is working to help promote U.S. operations of video platforms by deadlines later this week and Commerce Secretary Howard Lutnick, in a letter to Vice President JD Vance.
But the bid reported earlier by the New York Times was not seriously considered by the government, who discussed the sales process anonymously. The company declined to comment.
Even if Amazon’s bid fails to gain appeal within the White House, the company’s interests could force other suitors to pay more, thus squeezing more money from potential competitors. Participating in negotiations can also allow Amazon to understand Tiktok’s financial performance, including its Tiktok Shop, a competitor to Amazon’s online retail business.
President Donald Trump will meet with Vance and other top administration officials on Wednesday afternoon to consider a proposal to remove Tiktok’s U.S. operations from his Chinese parents sent bytedance Ltd. The government is weighing other plans, including Oracle Corp. and Blackstone Inc. and Blackstone Inc. and a possible other investor, including other investors in a joint venture.
Trump faces an April 5 deadline, visiting to find buyers for Tiktok’s U.S. operations, or being banned from using the app in the country, although he said he is willing to extend the deadline if necessary. Last year, a group of U.S. lawmakers signed by former President Joe Biden passed the law to address concerns that the Chinese government can collect sensitive data about U.S. citizens.
Trump has extended the deadline from the initial date of January 19. Even if he signed the deadline on the proposal, it still requires approval from Tiktok’s parent company and the Chinese government. It is not clear whether the barbarians and the Chinese were involved in the dialogue.
Capture all business news, company news, break news events and the latest news updates about Live Mint. Download the Mint News app for daily market updates.
MoreFewer