TwiTok: Twitter Enters Talk To Acquire TikTok

Media playback is unsupported on your device                  Media captionWATCH What's going on with TikTok

Media playback is unsupported on your device Media captionWATCH What's going on with TikTok

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The Financial Times reported that Microsoft has expanded negotiations and was now after the app's entire global operations.

Video-sharing platform TikTok has been at the centre of fierce debate in recent weeks and takeover talk.

Any continuing technical or operational reliance of the USA business on the Chinese company after the sale generally would have been unacceptable to the Committee on Foreign Investment in the United States (CFIUS), said Aimen Mir, former Deputy Assistant Secretary of the Treasury responsible for CFIUS, now a partner at the law firm Freshfields Bruckhaus Deringer.

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Tech giant Microsoft is the front-runner to buy TikTok but now Twitter has emerged as a possible suitor.

The value of TikTok's United States operations are unclear but estimates put it at tens of billions of dollars.

It remains unclear if talks with Microsoft will result in a deal, as one unnamed source told the South China Morning Post that the price offered to purchase TikTok before an imminent ban would be like "robbing the owner when his house is on fire". Microsoft on the other hand, had a market capitalisation of $1.6trn on Friday.

TikTok could file a lawsuit against the Donald Trump administration in the U.S. as early as Tuesday over an executive order prohibiting transactions with the short video sharing platform's Chinese owner within 45 days, NPR reported.

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The executive order stated that TikTok posed a national security risk, given its relationship with a Chinese firm and local laws in the country that allow for the seizure of user data.

In response to the USA president's executive order, TikTok has threatened legal action against the U.S. saying it was "shocked" by the move.

Twitter is in the mix with Microsoft to acquire the mega-popular video app, as the clock is ticking on the September 15 deadline of a mandatory TikTok sale.

Microsoft, a company far bigger in size and market capitalization than Twitter, said earlier this month that it would pursue an acquisition of TikTok's USA operations.

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"It will also take a tumultuous effort for both organisations to meander through the political sensitivities", she added.

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