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Illustration: Aïda Amer/Axios

Microsoft is working with Walmart on its efforts to buy TikTok's U.S. business from China's ByteDance, Axios has learned from multiple sources close to the process.

The state of play: The idea would be to help turn TikTok U.S. into more of an e-commerce app for creators and users, much like what TikTok parent company ByteDance does with a similar app in China.

  • The news was first reported by CNBC, which later said Walmart confirmed its participation.
  • The development comes just hours after former Disney executive Kevin Mayer resigned as CEO of TikTok and COO of ByteDance, with sources saying he'd been excluded by ByteDance from the takeover talks.
  • There is not yet a signed agreement between Microsoft and ByteDance, as the sides technically have until Sept. 15 to submit a deal proposal to the White House for approval.
  • Conversations continue to only center on TikTok's operations in the U.S., Canada, Australia and New Zealand.

Between the lines: It's possible that Walmart also has had discussions with Oracle, which also continues to negotiate with ByteDance.

  • SoftBank Group is not involved in the Microsoft/Walmart effort, although the Japanese firm has made inquiries to ByteDance, per sources.

The bottom line: Walmart adds more financial firepower and e-commerce know-how to Microsoft's efforts. But Walmart also has a significant presence in China, which could complicate Microsoft and ByteDance's efforts to get a deal through the Trump administration.

Go deeper

Nov 10, 2020 - Economy & Business

Robots vs. retail workers

Illustration: Eniola Odetunde/Axios

For years, retail has been lurching toward automation. Last week, Walmart took a significant step back.

Why it matters: In a rare win for retail workers, Walmart decided to take shelf-scanning robots out of its stores in favor of humans. But automation is still coming faster for retail jobs than for most other occupations, experts say.

Clinton-linked lawyer indicted in investigation of FBI's Russia probe

Photo: Eric Baradat/AFP via Getty Images

A grand jury has returned an indictment against Michael Sussmann, a lawyer whose firm represented the 2016 Clinton campaign, for lying to the FBI about not representing "any client" when he presented them with allegations about a secret Trump Organization back-channel to a Russian bank.

Why it matters: It's the second criminal charge stemming from special counsel John Durham's review of possible misconduct by the intelligence community and prosecutors who investigated the 2016 Trump campaign's ties to Russia.

Federal judge blocks Biden administration's use of Title 42 policy

Photo: Stefani Reynolds/Bloomberg via Getty Images

A federal judge on Thursday blocked the Biden administration from enforcing a public health order that fast-tracked deportations of migrant families at the southern border.

Why it matters: President Biden has faced significant backlash for retaining the Trump-era policy, which was implemented as a COVID containment measure. The expulsions deny adult migrants and families the chance for asylum.