Microsoft Is in Talks to Buy TikTok in U.S.

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Source: Bloomberg

By Kurt Wagner, Jennifer Jacobs, Saleha Mohsin, and Jenny Leonard

Microsoft Corp. is exploring an acquisition of TikTok’s operations in the U.S., according to a people familiar with the matter. A deal would give the software company a popular social-media service and relieve U.S. government pressure on the Chinese owner of the video-sharing app.

The Trump administration has been weighing whether to direct China-based ByteDance Ltd. to divest its stake in TikTok’s U.S. operations, according to several people familiar with the issue. The U.S. has been investigating potential national security risks due to the Chinese company’s control of the app.

While the administration was prepared to announce an order as soon as Friday, according to three people familiar with the matter, another person said later that the decision was on hold, pending further review by President Donald Trump. All of the people asked not to be identified because the deliberations are private.

Spokespeople for Microsoft and TikTok declined to comment on any potential talks. The software company’s interest in the app was reported earlier by Fox Business Network.

Trump on Friday night said he would ban TikTok from the U.S., and had the authority to do so by executive order or under the International Emergency Economic Powers Act. He was signing the document on Saturday, he said.

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1 reply

  1. China’s ByteDance Ltd. is prepared to sell 100% of TikTok’s U.S. operations as a way to head off a proposed ban on the music-video site by President Donald Trump, said two people with knowledge of the situation.

    Details of the proposed transaction weren’t immediately known after the parties worked through the night to find an acceptable resolution. The White House had no immediate comment.

    Trump said late Friday he plans to ban TikTok from the U.S. following concerns about data collection by the popular app, and suggested a move could come as soon as Saturday.

    ByteDance is now waiting on the administration to approve Microsoft Corp.’s potential acquisition of TikTok, said one person, who wasn’t authorized to speak publicly about the matter.

    A deal would give the software company a popular social-media service and relieve U.S. government pressure on the Chinese owner of the video-sharing app — although Trump seemed to throw cold water on the plan in his remarks on Friday.

    https://www.bloomberg.com/news/articles/2020-08-01/china-s-bytedance-prepared-to-divest-100-of-tiktok-in-u-s?srnd=premium&sref=eGA8az79

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