Amazon CEO Jassy Avoids Confirming TikTok Bid, Cites Company Policy

Amazon CEO Andy Jassy avoided confirming whether the company is bidding for TikTok's US business, citing Amazon's policy of not discussing M&A rumors. Jassy emphasized that Amazon remains consistent in not addressing deal speculation, but acknowledged that trade talks are complicated and involve various variables. The US government continues to enforce a law that could force a sale or ban of TikTok, while China's government reiterated that any transaction involving TikTok must comply with Chinese law.

Amazon.com Inc. (AMZN) Chief Executive Officer Andy Jassy did not confirm whether the company is bidding for TikTok's U.S. business during an interview on CNBC. When pressed by 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 making any public statements on the matter. He emphasized Amazon's longstanding policy of not discussing merger and acquisition rumors.

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 reiterated Amazon's stance on M&A activity. "We have not made any public statements on this matter, and we adhere to a policy of not discussing merger and acquisition rumors," Jassy said.

Jassy also acknowledged that TikTok could be part of the broader U.S.-China trade negotiation landscape, noting that trade talks are complex and involve various variables. "I'm not privy to internal discussions on this matter, but I've read media coverage suggesting TikTok could be one element in those discussions," he said.

The interview 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.

Amazon's stock has seen insider buying activity, with multiple company officers and directors purchasing shares. Additionally, the company has been identified as a "Double Buy" by Gurufocus, indicating that both Gurus and Insiders are buying, and the company is also buying back its own stock.

As the situation with TikTok's U.S. operations remains uncertain, investors should keep an eye on any developments related to the platform's future and the broader U.S.-China trade negotiations.