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Centricus, Triller Want To Buy TikTok Assets for $20B

By  |  August 30, 2020

Triller executive chairman Bobby Sarnevesht said on Friday, August 28, that the short-video app had made a US$20 billion offer with investment firm Centricus Asset Management for the assets of rival TikTok that China’s ByteDance is seeking to divest.

According to Retuers, ByteDance and TikTok denied knowledge of the offer, raising questions over whether the proposed deal between two of the most popular social media apps in the United States represented a serious bid or was a publicity stunt.

ByteDance has been ordered by President Donald Trump to divest TikTok in the United States, amid security concerns over the personal data it handles.

Microsoft and Oracle are among the US companies vying to acquire the assets of TikTok, which claims about 100 million monthly active users in the United States. The Chinese firm is expected to pick a bidder to enter into exclusive talks soon.

“We submitted an offer directly to the chairman of ByteDance through Centricus, and have confirmation it was received and is under consideration by him,” Sarnevesht told Reuters.

Full Content: Reuters

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