A potential shotgun wedding to Microsoft for TikTok’s U.S. operations provoked an outcry on Chinese social media as well as criticism from a prominent Chinese investor in TikTok owner ByteDance
Microsoft which owns the social media network LinkedIn for professional workers, is also seeking to buy TikTok’s Canadian, Australian and New Zealand interests.
“A forced deal under Washington’s shotgun could open up for endless litigations if it should result an unfavorable outcome to existing private shareholders,” said Fred Hu, chairman of Primavera Capital Group, an investor in ByteDance and one of China’s best known private equity groups. “This is not a standard M&A situation...this is hard to predict,” said one senior banker with a U.S bank in Hong Kong, saying that it would be a question of how to structure a deal in a way that would keep Washington happy.
The United States has been “stretching the concept of national security”, presuming that companies are guilty without evidence, China’s foreign ministry spokesman Wang Wenbin told a briefing after being asked about U.S. actions against Chinese software companies. People walk past the Bytedance headquarters building in Beijing, China August 3, 2020. REUTERS/Carlos Garcia Rawlins
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 Consults With Trump About Ongoing Talks To Buy TikTok From Chinese FirmIn its first public acknowledgement of a deal that could be worth in the billions of dollars, Microsoft said it is continuing talks with TikTok about a potential takeover of the hugely popular app.
Read more »
Microsoft says it is still talking with Trump about buying TikTok from its Chinese ownerMicrosoft says it is still discussing a potential purchase of TikTok, days after President Donald Trump said he would ban the popular short-form video app from operating in the United States.
Read more »
Microsoft wants to buy TikTok as White House puts Chinese apps on warningMicrosoft said on Sunday that it is exploring purchasing TikTok's service in the U.S., Canada, Australia and New Zealand.
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 »
Microsoft, TikTok officials in White House talks to prevent total banMicrosoft confirmed talks between CEO Satya Nadella and President Trump and said the tech giant is 'committed' to acquiring TikTok.
Read more »