Amazon CEO Sidesteps TikTok Bid Question, Cites Policy Against M&A Comments

GuruFocus
11 Apr

Amazon.com Inc. (AMZN, Financials) Chief Executive Officer Andy Jassy did not confirm whether the company is bidding for TikTok's U.S. business during an interview on CNBC, saying Amazon has not made any public statements on the matter and adheres to a policy of not discussing merger and acquisition rumors.

When pressed by CNBC anchor Andrew Ross Sorkin about reports that Amazon was among the bidders for the short-form video app, Jassy responded that he didn't recall the company saying that. He then steered the conversation back to Amazon's longstanding approach of avoiding public comment on deal speculation.

The interview followed several media reports earlier this month suggesting that Amazon had submitted a last-minute bid for TikTok. While Jassy did not deny the possibility outright, he avoided providing a clear answer and emphasized that Amazon remains consistent in not addressing M&A activity.

Asked whether TikTok should be seen as part of the broader U.S.-China trade negotiation landscape, Jassy said he wasn't privy to internal discussions on the matter. He noted that trade talks are complicated and involve a variety of variables depending on the country, and acknowledged that he had read media coverage suggesting TikTok could be one element in those discussions.

Jassy's appearance came after President Donald Trump extended the deadline by 75 days for TikTok to continue operating in the U.S., as federal authorities continue to enforce a law passed under the Biden administration that could force a sale or ban of the platform.

In response, China's government reiterated that any transaction involving TikTok must comply with Chinese law and suggested it would oppose deals that appear influenced by external pressure from Washington.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10