Microsoft Confirms Talks to Buy TikTok in U.S
https://www.cnbc.comMicrosoft on Sunday confirmed that it has held talks with Chinese technology company ByteDance to acquire its trendy social app TikTok in the U.S. Microsoft said in a statement that it will keep working with the U.S. government on a deal and that it intends to conclude talks by September 15.
The statement comes two days after media outlets reported that Microsoft was interested in acquiring the app, which is owned by Chinese company ByteDance. Soon after the reports emerged, President Trump said that he opposed the idea of Microsoft buying TikTok and that he would move to ban the app in the U.S.
Trump later agreed to give ByteDance 45 days to cut a deal with Microsoft over TikTok, Reuters reported on Sunday, citing unnamed sources. Microsoft said it would make sure that data on TikTok users in the U.S. would be located in the country and that data stored elsewhere would be deleted after it has been moved. (According to a TikTok spokesperson currently the data on TikTok users in the U.S. is in fact stored in the U.S.)
