Microsoft Continues Talks to Buy TikTok

Microsoft has confirmed it is still in discussions to buy the US operations of the video-sharing app TikTok, despite reports over the weekend that the deal might be off.

Microsoft says CEO Satya Nadella spoke with president Donald Trump about the acquisition on Sunday, amid White House concerns about the Chinese-owned app and security issues.

It’s been reported that Nadella assured the president that a full security review of the app will be carried out and a list of “proper economic benefits” presented to US government officials.

Last week Trump had threatened to ban TikTok from the US market, throwing a potential Microsoft deal into doubt.

“Microsoft fully appreciates the importance of addressing the president’s concerns,” the company says in a statement. “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’s US presence is valued at anywhere between $15bn and $30bn, with 80 million active users. Microsoft is hoping to conclude discussions with the app’s parent company ByteDance by 15 September.

Credit: Marketing Week