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Twitter CFO Talks TikTok Rumors

Twitter Inc (NYSE: TWTR) last month was added to the list of companies that are reported or rumored to be interested in acquiring TikTok, but CFO Ned Segal wouldn't confirm or deny those rumors.

· 09/09/2020 09:36

Twitter Inc (NYSE:TWTR) last month was added to the list of companies that are reported or rumored to be interested in acquiring TikTok, but CFO Ned Segal wouldn't confirm or deny those rumors.

Not A Denial: Twitter is flush with $7.8 billion in cash and has the infrastructure and personnel to handle this type of acquisition.

However, Twitter's policy is not to comment on specific rumors but the company remains focused on looking out for "products or businesses that can help us accelerate our priorities," Segal said on CNBC's "Mad Money." The company has been active in the M&A space over the past 18 months as it completed around a dozen companies.

"Anytime there is something big, there is something that can help us accelerate our priorities, you shouldn't be surprised if you hear our name mentioned as an interested party," the CFO said.

The executive's comments prompted host Jim Cramer to state: "That isn't a denial. I like that."

Public Conversation: Twitter's core purpose is to serve the public conversation and it strives for users to see all sides of a debate, Segal said. The public also needs to be a part of the conversation and Twitter's policies reflect its commitment.

"We are really proud of the evolution of our policies and how we have been able to enforce them consistently to build trust with the people who use Twitter," he said.

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