Monday, August 3, 2020

Microsoft to buy 'US TikTok' after Trump says he will ban app

US tech giant Microsoft has confirmed that it is continuing talks to purchase the US operations of Chinese-owned video-sharing app TikTok.

Microsoft boss Satya Nadella had a conversation with President Donald Trump about the acquisition on Sunday, the tech firm said.

Microsoft stressed that it "fully appreciates the importance" of addressing President Trump's concerns.

A full security review of the app will be conducted, the company added.

Microsoft will also have to provide the US government with a list of the "proper economic benefits" to the country, it said in a blog post.

The tech giant hopes to conclude discussions with TikTok's parent firm ByteDance by 15 September.

Microsoft said it was looking to purchase the TikTok service in the US, Canada, Australia and New Zealand, and would operate the app in these markets.

The tech firm added that it "may" invite other American investors to participate in the purchase "on a minority basis".

Microsoft emphasised that it would ensure that "all private data of TikTok's American users" was transferred to and remained in the US.

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