TikTok to Announce U.S. Buyer Soon; Why Walmart Is on the Short List

According to CNBC, video-sharing service TikTok may announce the sale of its operations in North America, Australia, and New Zealand as soon as next week, with a likely closing price between $20 billion and $30 billion. Several potential buyers are in the running, including Walmart (NYSE: WMT) and Oracle (NYSE: ORCL).

Just a few days ago, TikTok's parent company ByteDance launched a lawsuit against the U.S. government following President Donald Trump's executive order forbidding American companies from carrying out transactions with ByteDance. Trump imposed the ban based on the claim that TikTok's extensive data collection on its users could give the Chinese government access to Americans' private information, helping to create blackmail dossiers, track federal employees, and "conduct corporate espionage."

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Source Fool.com