Trump for his response to a white supremacy rally in Charlottesville, Va., and taking stands on politically touchy issues like gun control. So far, he has managed to stay in President Trump’s good graces - the president has praised him in public - despite chastising Mr. But it will test the political skills of Walmart’s C.E.O., Doug McMillon.The retailer is already trying to sell its British grocery arm, Asda, for about $9 billion, and it bought control of India’s Flipkart for about $16 billion in 2018. The move is another effort by Walmart to reshape its business and take on Amazon through M.&A.Walmart’s shares jumped on the news yesterday. “It’s a way to offer customers a hyperpersonalized experience in both content and commerce,” Deborah Weinswig of the data firm Coresight Research told Bloomberg.(Other social networks, like Instagram, have also focused on adding shopping features.) The retail giant could provide a significant e-commerce component for TikTok while Microsoft handles the crucial cloud-computing infrastructure needed to run a major social network. Walmart’s teaming up with Microsoft is the latest surprise in the complex deal talks.
That means the video app could have a new owner within weeks.
operations, The Times’s Mike Isaac reports.
D-Day for a TikTok deal is nearīoth Microsoft - with an unexpected new partner - and a consortium led by Oracle have submitted bids to buy TikTok’s U.S. Want this delivered to your inbox each day? Sign up here.