Twitter targets sale conclusion this month - Mobile World Live

Twitter targets sale conclusion this month

06 OCT 2016

Twitter hopes to conclude negotiations about its potential sale before the end of October, said Reuters, as another report said both Google and Walt Disney are now out of the running.

The two companies, heavily linked to a potential deal following reports that Twitter was mulling a sale last month, are now not interested, said unidentified Re/Code sources.

Apple, another potential suitor, is also unlikely to pursue a deal, but Salesforce remains interested, after also being linked heavily.

According to Reuters, Twitter wants a conclusion by the time it reports its Q3 earnings, and expects binding acquisition offers in the next two weeks.

The publication added that it is not certain this process will result in a sale.

Google’s decision to pass on Twitter comes after the company hired financial adviser Lazard to review a potential deal.

Analysts suggested a Google-Twitter tie-up could be most viable out of all the companies linked, with the internet giant struggling to develop its own social platform in the past.

It has however launched two apps recently, video calling offering Duo and messaging app Allo.

Twitter is seeking a sale after struggling to grow its user base for more than year, and remains loss making.

It is thought to be valued at $16 billion.

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Kavit Majithia

Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >>

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