Microsoft CEO to Additional Negotiations with ByteDance on Buying TikTok after Consulting with Trump

Microsoft is able to press forward with discussions to discover a doable acquisition of TikTok in the US, following talks between CEO Satya Nadella and U.S. President Donald Trump, the corporate affirm in a statement on its firm weblog on Aug. 3. The assertion comes at some point after media outlets reported that Trump opposed the concept of Microsoft shopping for TikTok and would take motion to thoroughly ban the app within the US.

In response to the assertion, Microsoft will hold working with the U.S. authorities on a deal and that it intends to conclude talks by Sept. 15. The 2 corporations have explored the proposal of Microsoft shopping for TikTok within the U.S., Canada, Australia and New Zealand, whereas Microsoft would possibly supply different American traders the possibility to become involved within the acquisition on a minority foundation.

SEE ALSO: India Bans TikTok, WeChat and 57 More Chinese Apps Amid Border Crisis

“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 US, including the US Treasury,” Microsoft mentioned. “This new structure would build on the experience TikTok users currently love, while adding world-class security, privacy, and digital safety protections.”

On Sunday evening native time, earlier than Microsoft launched the assertion, ByteDance, the guardian firm of TikTok launched a press release in Chinese language. ByteDance mentioned within the assertion that’s has at all times been about changing into a world firm. “In this process, we have faced all kinds of complex and unimaginable difficulties, including the tense international political climate, the collision and conflict between different cultures, and the plagiarism and smear tactics by our competitor Facebook” mentioned ByteDance. “But we still adhere to the vision of globalization, and will continue to investment in the global market, including China, to create value for global users.”

ByteDance considers Fb a rival within the world market. To compete with TikTok within the quick video market, Fb launched Lasso, an app nearly an identical to TikTok and Reels, which is backed by its subsidiary Instagram. Microsoft landed a strategic alliance with Fb after investing $240 million within the firm in 2007, and since then the 2 corporations have labored collectively on numerous initiatives.

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