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Microsoft in talks to buy TikTok US business

sumitroy

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  • The Trump administration is rumored to be preparing an order for Chinese company Bytedance to divest its U.S. portion of TikTok.
  • Microsoft is reportedly in talks to buy the app from Bytedance.
  • There's no word on when the order, or sale, might come down.
TikTok may soon come under Microsoft's wing (yes, really)

Source
 

Bapun Raz

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Following a conversation between Microsoft CEO Satya Nadella and President Donald J. Trump, Microsoft is prepared to continue discussions to explore a purchase of TikTok in the United States.

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.

Microsoft will move quickly to pursue discussions with TikTok’s parent company, ByteDance, in a matter of weeks, and in any event completing these discussions no later than September 15, 2020. During this process, Microsoft looks forward to continuing dialogue with the United States Government, including with the President.

Microsoft to continue discussions on potential TikTok purchase in the United States - The Official Microsoft Blog
 

GJ mit

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"We don't agree with the decision (selling TikTok's U.S. business), because we have always adhered to protecting users' data and maintaining the platform's neutrality and transparency," said Zhang Yiming, founder and CEO of ByteDance, in an internal company letter on Monday.
"We have not reached a final solution yet," Zhang added.
"But considering the current international environment, we have to face the U.S. president's executive order to ban TikTok and the decision of the Committee on Foreign Investment in the United States (CFIUS), meanwhile we won't give up on any possibilities," Zhang wrote in the letter.


ByteDance CEO: No final decision yet on offer to sell TikTok's U.S. business
 

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Chinese unicorn ByteDance which owns the popular short video-sharing app TikTok has received approval from the British government to move its headquarters from Beijing to London, The Sun newspaper reported.

A formal announcement from ByteDance's founders on setting up shop in London is expected soon, said the report on Sunday. While there is no official word on the deal yet, the newspaper said that the deal could see ByteDance's founder Zhang Yiming and TikTok's creator Alex Zhu relocating to London.


Chinese unicorn ByteDance to shift HQ from Beijing to London: Report
 

Saichaitanya4496

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President Donald Trump told after a Cabinet meeting Monday that he’ll ban video sharing app TikTok in the U.S. on September 15 if Microsoft, or another party, doesn’t close a purchase of the platform by then.

“We had a great conversation. He called me to see whether of not, how I felt about it, and I said look, it cannot be controlled, for security reasons, by China, too big, too invasive, and here’s the deal,” President Trump said. “I don’t mind if, whether it is Microsoft or somebody else, a big company, a secure company, very American company buy it.”But “It will close down on Sept. 15 unless Microsoft or somebody else is able to buy it and work out an appropriate deal so that the Treasury of the United States gets a lot of money,” he said.

President Trump Says TikTok Will Shut In The U.S. On Sept. 15 Unless “Microsoft Or Someone Else Buys It”
 

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Following a conversation between Microsoft CEO Satya Nadella and President Donald J. Trump, Microsoft is prepared to continue discussions to explore a purchase of TikTok in the United States.

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.

Microsoft will move quickly to pursue discussions with TikTok’s parent company, ByteDance, in a matter of weeks, and in any event completing these discussions no later than September 15, 2020. During this process, Microsoft looks forward to continuing dialogue with the United States Government, including with the President.

Microsoft to continue discussions on potential TikTok purchase in the United States - The Official Microsoft Blog
Why don't they sell their entire business to Microsoft? Microsoft gets a really good user base and countries still get to use TikTok because of the trust they have in Microsoft..
 

Saichaitanya4496

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I did say that if you buy it, whatever the price is, that goes to whoever owns it, because I guess it's China, essentially, but more than anything else, I said a very substantial portion of that price is going to have to come into the Treasury of the United States. Because we're making it possible for this deal to happen. Right now they don't have any rights, unless we give it to 'em. So if we're going to give them the rights, then it has to come into, it has to come into this country.

It's a little bit like the landlord-tenant [relationship]. Uh, without a lease, the tenant has nothing. So they pay what is called "key money" or they pay something. But the United States should be reimbursed, or should be paid a substantial amount of money because without the United States they don't have anything, at least having to do with the 30%.

Trump calls TikTok a hot brand, demands a chunk of its sale price

US Treasury to get piece of the sale! Great!
 
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