"An interesting asset," says Shark Tank's Kevin O'Leary about TikTok's potential sale

Shark Tank investor Kevin O'Leary has all guns blazing in the bidding war for the potential sale of short video app, TikTok. After President Donald Trump took to last Sunday's media briefing openly invited Oracle CEO, Larry Ellison to have a "negotiation in front of the media," it has led to an open competition to acquire the app, whoever presents the best deal.

After the President's media briefing, Kevin O'Leary joined Bloomberg Television to discuss the bidding war and his plans to take over TikTok with Frank McCourt. Shark O'Leary presented a deal with $20 billion along with McCourt earlier this month. Kevin O'Leary is confident in his bid as it comes from a practical market capitalization of the app based on ByteDance’s overall value.

When asked by the reporter about the new emerging competition in the market to grab the potential deal of TikTok, Kevin explained that his offer stands the dictates of the Supreme Court, and they are not playing to use Chinese algorithm as per the judgment. He remarked:

"I think there's a lot of interest in TikTok. It's really an interesting asset. We know from the court order that has been issued both by Congress on a bipartisan basis and then most recently just a week ago by the Supreme Court in a unique 9-0 very definitive decision where they further defined the issues and the decision around non-use of any Chinese algorithm."

---

"McCourt-O'Leary offer"- Shark Tank's Kevin O'Leary explains how his deal satisfies the original order of the Supreme Court to acquire TikTok

Since the Supreme Court took up the case, Shark Tank's Kevin O'Leary and billionaire Frank McCourt have been the frontrunners in acquiring TikTok. Kevin has been rallying behind giving TikTok a new escalation, and providing potential business opportunities through it.

Now that President Trump has called for a bidding war, Kevin feels his offer is the most accurate one, offering all the right features. During an interview with Bloomberg Television, Kevin O'Leary explained that to acquire the app, the bidder must follow the original Supreme Court rule and decline the use of the Chinese algorithm at all costs.

"The only offer that's been made to the company, banker to banker is the McCourt-O'Leary offer that specifically dictates that we will not buy or require the algorithm at all," said Shark Tank's Kevin O'Leary.

He further added:

"Not one single line of the 5 billion lines of code. We cannot buy it. We don't want it, and we won't purchase it as per the order of the Supreme Court."

---

Shark Tank US is officially broadcast by ABC Network.