Microsoft Corporation is on course to buy popular short video app TikTok from the Chinese company ByteDance. Microsoft is aiming to finalise the deal by September 15.
The US-based company had said on Sunday that they are in discussions to acquire TikTok, after CEO Satya Nadela had a discussion with US President Donald Trump.
“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,” said Microsoft.
Trump has agreed to give China’s ByteDance a period of 45 days to negotiate the sale of the app.
US officials have said that TikTok, under its Chinese owners, poses a threat in the way it handles its user data with Trump mulling the idea of banning the app.
Microsoft hasn’t said how much it’s willing to spend to acquire TikTok. Reuters had reported last week that ByteDance’s valuation expectations exceed $50 billion.
The negotiations between the two companies will be overseen by the Committee On Foreign Investment In The United States.
Mumbai: Fans go crazy and sometimes cross all limits when they come across celebrities. There… Read More
Bhubaneswar: Four Odia workers from Ganjam district, who were stranded in Oman, have safely returned… Read More
Mumbai: Actress Shehnaaz Gill is enjoying her vacation in Sydney, as is evident from the… Read More
Mumbai: Actress Rakhi Sawant, known for her bold and controversial comments, was recently summoned by… Read More
Bhubaneswar: In the FIH Pro League 2024-25 matches on 21 February, Friday, India faced off… Read More
Bhubaneswar: Representatives of Map My Crop made a presentation to Odisha’s Deputy Chief Minister Kanak… Read More
This website uses cookies.
