Microsoft said it will push ahead with talks to acquire the U.S. operations of Chinese-owned short-video app TikTok, a potential blockbuster deal that could re-shape the social media industry
Trump had dismissed the idea of a sale to Microsoft on Friday. But following a discussion between Trump and Microsoft CEO Satya Nadella, the Redwood, Washington-based company said in a statement on Sunday that it would continue negotiations to acquire TikTok from ByteDance, and that it aimed to reach a deal by Sept. 15.
“A win-win in the making,” Republican Senator Lindsey Graham tweeted in response to Trump’s new stance on Sunday. ByteDance and the White House did not immediately respond to requests for comment on the Microsoft talks. In a statement issued late on Sunday that did not mention TikTok, ByteDance said it faced “complex and unimaginable difficulties” in going global.
State-backed newspaper China Daily on Monday called ByteDance the victim of a “witch hunt” from the United States, and said Washington had not provided evidence to support its allegation that TikTok posed a threat to U.S. national security. It is not clear how much Microsoft could pay for TikTok. Reuters reported last week that ByteDance’s valuation expectations for the app exceeded $50 billion, although U.S. pressure to divest it could lower that price tag.
Microsoft said it did not intend to provide further updates until there was a definitive outcome in the negotiations.The United States has been increasingly scrutinizing app developers over the personal data they handle, especially if some of it involves U.S. military or intelligence personnel. Ordering the divestment of TikTok would not be the first time the White House has taken action over such concerns.
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