US President Donald Trump has revealed that Microsoft is among the companies interested in purchasing TikTok to prevent a potential ban in the US. Other companies are also reportedly in the running, with Trump expressing his preference for a bidding war to secure the best deal.
President Donald Trump stated on Monday evening that Microsoft is among the U.S. companies exploring the acquisition of TikTok to prevent an impending ban that could take effect in April. 'I would say yes,' Trump told reporters when asked if Microsoft was one of the companies interested in facilitating a new ownership structure for TikTok, a stipulation mandated by Congress to ensure the app's continued operation in the U.S.
Trump further indicated that other companies were also vying to purchase TikTok but declined to disclose their identities. 'I like bidding wars because you make your best deals,' Trump remarked to reporters aboard Air Force One while returning to Washington from Miami, where Republican House members were holding a conference. Microsoft refrained from commenting on the matter, and representatives for TikTok did not immediately respond to a request for comment.TikTok's parent company, ByteDance, based in China, has been given a 75-day deadline by the U.S. government to find new ownership that satisfies regulatory concerns. This deadline extends to April 4th from the initial January 19th target. The president has expressed his desire for the ultimate buyer to grant the U.S. a 50% stake in the company. However, the specifics remain unclear, leaving ambiguity about whether Trump envisions government control of the app or ownership by another U.S. entity.There have been multiple individuals and companies expressing interest in acquiring TikTok's U.S. operations. These include billionaire Frank McCourt and Trump's former Treasury Secretary Steven Mnuchin, who have publicly declared their intentions. Trump has also claimed to have engaged in private discussions with 'many people' regarding the company. Following the bipartisan law signed by former President Joe Biden in April, ByteDance initially refuted any plans to sell the platform and challenged the statute in court for several months. China also issued condemnations to Washington regarding the divestment push, though recent indications suggest a softening stance. During media interviews last week, Bill Ford, chairman of investment firm General Atlantic and a ByteDance board member, asserted that the company is prepared to collaborate with both the Trump administration and Chinese officials to find a solution that ensures TikTok's continued availability. He also proposed the possibility of a resolution that avoids a complete divestiture by ByteDance. Lawmakers and officials from both political parties have raised national security concerns regarding Chinese ownership and the potential for manipulation on the immensely popular platform, which boasts over 170 million U.S. users. While Trump previously favored a TikTok ban, he reversed his position last year, crediting the platform with aiding his success in securing more young voters during the recent presidential election. Microsoft, alongside Walmart, previously made an unsuccessful bid for TikTok during Trump's first term after Trump attempted to ban the app. Microsoft CEO Satya Nadella subsequently described the experience as the 'strangest thing I've ever worked on.
TIKTOK Microsoft Acquisition US Ban National Security Donald Trump Bytedance China
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