Search
+

    Microsoft is said to be in talks to buy TikTok in US

    Synopsis

    President Donald Trump plans to announce a decision ordering Bytedance to divest its U.S. ownership of TikTok, according to people familiar with the matter. The U.S. has been investigating potential national security risks due to the Chinese company’s control of the app. Trump’s decision could be announced as soon as Friday, said the people.

    Agencies
    As TikTok became more popular, U.S. officials grew concerned about the potential for the Chinese government to use the app to gain data on U.S. citizens.
    By Kurt Wagner

    Microsoft Corp. is exploring an acquisition of TikTok’s operations in the U.S., according to a person familiar with the matter.

    TikTok, a video-sharing app, is owned by China-based ByteDance Ltd., which has been evaluating changes to its business structure because of the U.S. government’s national security concerns.

    President Donald Trump plans to announce a decision ordering Bytedance to divest its U.S. ownership of TikTok, according to people familiar with the matter. The U.S. has been investigating potential national security risks due to the Chinese company’s control of the app. Trump’s decision could be announced as soon as Friday, said the people.

    Microsoft is in talks to purchase TikTok’s U.S. operations, according to the person who asked not to be identified because the discussions are private. A spokesman for Microsoft declined to comment.

    ByteDance bought Musical.ly Inc. in 2017 and merged it with TikTok, creating a social-media hit in the U.S -- the first Chinese app to make such inroads.

    As TikTok became more popular, U.S. officials grew concerned about the potential for the Chinese government to use the app to gain data on U.S. citizens. The Committee on Foreign Investment in the U.S., which investigates overseas acquisition of U.S. businesses, began a review of the purchase in the fall of 2019.
    (Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

    Also Read

    6 Comments on this Story

    Harshad B Chauhan60 days ago
    US SHOULD OWN CHINA VIRUS ALSO
    WhoseMoneyIsIt60 days ago
    Euphemism or Metaphor does not get better than this. Irony of society which values Social emotional integrity so highly is not serious about high death ratio of Covid. Every resourceful adult must have few fatalities from his friends & family circle. And American taking over chinese company in such circumstances :-) is flagbearer of society's fundamental understanding of best business practices.
    Yeshwant Pande60 days ago
    Good idea and initiative to reintroduce Chinese brands and products. So now how do you fight China by banning apps ? Will US and US companies take care and burden of what China is doing ?
    The Economic Times