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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

Erica Pandey, author of @Work
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.

Court rejects Trump campaign's appeal in Pennsylvania case

Photo: Sarah Silbiger for The Washington Post via Getty Images

A federal appeals court on Friday unanimously rejected the Trump campaign's emergency appeal seeking to file a new lawsuit against Pennsylvania's election results, writing in a blistering ruling that the campaign's "claims have no merit."

Why it matters: It's another devastating blow to President Trump's sinking efforts to overturn the results of the election. Pennsylvania, which President-elect Joe Biden won by more than 80,000 votes, certified its results last week and is expected to award 20 electoral votes to Biden on Dec. 12.

Dave Lawler, author of World
38 mins ago - World

Belarus dictator Lukashenko says he'll leave post after new constitution

Photo: Valery Sharifulin\TASS via Getty

Longtime Belarusian President Aleksandr Lukashenko has said he will step down after a new constitution comes into force, according to Belarusian state media.

Why it matters: Lukashenko has faced three months of protests following a rigged election in August. He has promised to reform the constitution to reduce the near-absolute powers of the president, but has insisted that his strong hand is needed to see that process through.