Amazon CEO Denies Company Made Bid for TikTok U.S. Unit

GuruFocus
04-11

Amazon.com Inc. (AMZN, Financials) Chief Executive Officer Andy Jassy said the company never stated it was bidding for TikTok's U.S. operations, refuting recent media reports suggesting the e-commerce giant submitted a last-minute offer.

“I don't think we said that,” Jassy said in an interview with CNBC on Wednesday when asked about the alleged bid.

The reports, which surfaced earlier this month, claimed Amazon had expressed interest in acquiring the short-form video app amid growing regulatory pressure in the United States. Jassy declined to comment further on merger and acquisition speculation during the interview.

When asked whether TikTok was a factor in ongoing trade negotiations between the U.S. and China, Jassy said he was not aware of internal discussions. “I don't know... I think the conversations that the administration is having, probably was having before and more intensely is having now with each country are complicated,” he said. “I imagine that each have their set of variables and I've read that this may be one of the pieces in that negotiation, but I am not privy to it.”

The comments follow President Donald Trump's decision to extend the deadline by 75 days for TikTok to remain operational in the U.S., amid enforcement of a sale-or-ban law enacted under the Biden administration.

A spokesperson for China's government said Wednesday that any deal involving TikTok must comply with Chinese law. Beijing also said it would not support a transaction if it appeared to be influenced by Washington's tariff threats.

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