Microsoft plans to finish its talks to acquire TikTok by Sept. 15
Microsoft, in its statement, said, “Microsoft fully appreciates the importance of addressing the President’s concerns. It is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury.”
TikTok has been valued at $50 billion by a group of ByteDance’s U.S.-based investors including Sequoia and General Atlantic, who also have been seeking to acquire control of TikTok, ReutersMicrosoft cautioned that the talks with ByteDance are preliminary and that “there can be no assurance that a transaction which involves Microsoft will proceed.” The company said it doesn’t plan to provide additional info “until there is a definitive outcome to our discussions.
Among other measures, Microsoft said, it would ensure that all private data of TikTok’s U.S. users “is transferred to and remains in the United States. To the extent that any such data is currently stored or backed up outside the United States, Microsoft would ensure that this data is deleted from servers outside the country after it is transferred.”
According to Microsoft, ByteDance and Microsoft notified the interagency Committee on Foreign Investment in the United States of their intent to explore a preliminary proposal that would involve Microsoft buying TikTok’s operations in the U.S., Canada, Australia and New Zealand. Microsoft said it “may invite other American investors to participate on a minority basis in this purchase.”
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Microsoft Says It Will Continue TikTok Acquisition Talks, Despite Trump’s Threat to Ban the AppMicrosoft confirmed that it is in talks to buy TikTok from China’s ByteDance — and will continue the negotiations — coming after Donald Trump said he opposed such a deal and has c…
Read more »
Microsoft Says It Remains Committed to Reaching TikTok DealMicrosoft said it is committed to trying to acquire the U.S. operations of the Chinese video-sharing app TikTok on terms required by the White House, after CEO Satya Nadella spoke by phone with President Trump about the possible deal.
Read more »
Trump Says He's Banning TikTok But Trump Says a Lot of ThingsKeep in mind the president makes a lot of promises, many of which never come to fruition
Read more »
Microsoft Is in Talks to Acquire TikTok, as U.S. Considers Banning the AppMicrosoft is in advanced talks to acquire the U.S. operations of the Chinese-owned video app TikTok, according to people with knowledge of the discussions, in a deal that would be a concession to White House pressure and make the software giant a major player in social media.
Read more »
WSJ News Exclusive | Microsoft and Bytedance Put TikTok Talks on Hold After Trump Signals OppositionMicrosoft has paused negotiations to buy the U.S. operations of TikTok after President Trump said he opposes the deal, say people familiar with the matter
Read more »