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MICROSOFT CORPORATION

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Microsoft : Walmart partners with Microsoft for TikTok bid

08/27/2020 | 12:09pm EST

Aug 27 (Reuters) - Walmart Inc is partnering with Microsoft Corp in the software maker's bid for Bytedance-owned TikTok, the world's largest retailer said on Thursday.

ByteDance has been in talks to sell TikTok's North American, Australian and New Zealand operations which could be worth $25 billion to $30 billion to companies including Microsoft and Oracle, people with knowledge of the matter have told Reuters.

U.S. President Donald Trump has demanded that China's ByteDance, which owns TikTok globally, sell its U.S. operations, citing potential national security risk due to the vast amount of private data the app is compiling on U.S. consumers.

"We are confident that a Walmart and Microsoft partnership would meet both the expectations of U.S. TikTok users while satisfying the concerns of U.S. government regulators," the retailer said in a statement.

The two companies are two years into a five-year partnership as part of the retailer's push for wider use of cloud and artificial intelligence.

Walmart said TikTok's integrated e-commerce and advertising capabilities in other markets "is a clear benefit to creators and users in those markets."

The retailer's shares were up about 4.4% on the news.

(Reporting by Munsif Vengattil and Nivedita Balu in Bengaluru and Nandita Bose in Washington; Editing by Arun Koyyur and Sriraj Kalluvila)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
MICROSOFT CORPORATION 0.44% 225.95 Delayed Quote.1.15%
WALMART INC. 1.02% 146.33 Delayed Quote.1.51%
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Financials (USD)
Sales 2021 158 B - -
Net income 2021 51 435 M - -
Net cash 2021 76 850 M - -
P/E ratio 2021 33,4x
Yield 2021 0,96%
Capitalization 1 708 B 1 708 B -
EV / Sales 2021 10,3x
EV / Sales 2022 9,21x
Nbr of Employees 163 000
Free-Float 99,9%
Chart MICROSOFT CORPORATION
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Microsoft Corporation Technical Analysis Chart | MSFT | US5949181045 | MarketScreener
Technical analysis trends MICROSOFT CORPORATION
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 37
Average target price 247,93 $
Last Close Price 225,95 $
Spread / Highest target 26,1%
Spread / Average Target 9,73%
Spread / Lowest Target -2,63%
EPS Revisions
Managers and Directors
NameTitle
Satya Nadella Chief Executive Officer & Non-Independent Director
Bradford L. Smith President & Chief Legal Officer
John Wendell Thompson Independent Chairman
Kirk Koenigsbauer COO & VP-Experiences & Devices Group
Amy E. Hood Chief Financial Officer & Executive Vice President
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