Walmart has denied reports from ABC News that it was “actively considering” joining a group of investors to purchase TikTok. 

Reuters reports that the retailer quickly refuted the claim after ABC News published a story suggesting that Amazon’s involvement in the bidding process triggered Walmart’s interest. A Walmart spokesperson said in a statement that the ABC story is incorrect, and the article has since been removed from ABC’s website.

This development comes as ByteDance, TikTok’s Chinese parent company, faces pressure to sell its U.S. operations. On Saturday, April 4, President Donald Trump extended the deadline for the sale by an additional 75 days because China reportedly blocked the deal due to the U.S. tariffs.

Multiple Bidders Emerge as Decision Approaches

Amazon submitted a last-minute offer last week, joining several other potential buyers. However, according to The New York Times, Amazon’s bid is not being taken seriously. Other contenders include a team of U.S. investors featuring Larry Ellison’s Oracle and private equity firm Blackstone.

Another entrant in the bidding process is Zoop, a social media startup co-founded by Tim Stokely, founder of OnlyFans, and RJ Phillips. Their bid, partnered with cryptocurrency company The Hbar Foundation, positions itself as a “creator-first revolution” against traditional social media companies.

Regulatory Concerns Drive Sale Process

Reuters notes that the White House, not ByteDance, is managing the sale process, with U.S. VP JD Vance and Commerce Secretary Howard Lutnick leading efforts. The government’s concerns stem from fears that the Chinese government could access Americans’ data through the app.

Walmart was previously linked to TikTok in 2020 when it considered teaming up with Microsoft for a potential acquisition. If no sale agreement is reached, TikTok faces a ban in the United States under 2024 legislation citing national security concerns.