President Trump has revealed that Microsoft is among the U.S. companies interested in purchasing TikTok to prevent a potential ban. The deadline for TikTok to find new ownership that satisfies the government is April 4th. Trump has stated his preference for a final buyer to grant the U.S. a 50% stake in the company. Several other companies, including Walmart and billionaire Frank McCourt, have also expressed interest in acquiring TikTok's U.S. platform. The potential acquisition comes amid national security concerns raised by lawmakers and officials regarding Chinese ownership and potential manipulation of the popular platform.
President Donald Trump revealed Monday evening that Microsoft is among the U.S. companies exploring the acquisition of TikTok to prevent a potential ban that could take effect in April. 'I would say yes,' Trump responded to reporters when asked if Microsoft was one of the companies eyeing a potential takeover of TikTok, a requirement imposed by Congress to allow the app to continue operating within the United States.
Trump added that other companies also expressed interest in purchasing TikTok but declined to disclose a list. 'I like bidding wars because you make your best deals,' Trump stated while speaking to reporters aboard Air Force One during his return to Washington from Miami, where Republican House members were holding a conference. Microsoft refrained from commenting on the matter, while representatives for TikTok did not immediately respond to a request for comment.The deadline for TikTok to find new ownership that satisfies the government is April 4th, extended from January 19th. The president has indicated his preference for a final buyer to grant the U.S. a 50% stake in the company, currently owned by China-based ByteDance. However, the specifics remain unclear, and it is uncertain whether Trump proposes government control of the app or ownership by another U.S. entity.Earlier reports suggested that Trump administration officials had proposed a deal to ByteDance that would allow the U.S. government to hold up to 50% ownership in a newly formed entity merging Perplexity with TikTok's U.S. business, according to a person familiar with the situation. Several individuals, including billionaire Frank McCourt and Trump's former Treasury Secretary Steven Mnuchin, have publicly expressed their desire to acquire TikTok's U.S. platform. Trump has also stated that he has engaged in private conversations with 'many people' regarding the company. Following the bipartisan law signed by former President Joe Biden in April, ByteDance asserted its lack of intention to sell the platform and challenged the statute in court for several months. China also criticized Washington's divestment efforts, although recently, there appears to be a softening of its stance. In recent media interviews, Bill Ford, chairman of the global investing firm General Atlantic and a ByteDance board member, indicated that the company is prepared to collaborate with both the Trump administration and Chinese officials to find a solution that ensures TikTok's continued accessibility. He also suggested the possibility of a solution that falls short of a complete divestment by ByteDance. Lawmakers and officials from both political parties have voiced national security concerns regarding Chinese ownership and potential manipulation on the immensely popular platform, which boasts over 170 million U.S. users. Trump initially favored a TikTok ban but reversed his position last year, attributing the platform's assistance in securing more young voters during the recent presidential election. Microsoft, in collaboration with Walmart, had previously made an unsuccessful bid for TikTok during Trump's first term after Trump attempted to ban the app. Microsoft CEO Satya Nadella later described the experience as the 'strangest thing I've ever worked on.
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