.Microsoft Says It Will Continue tiktok_us Acquisition Talks, Despite Trump's Threat to Ban the App
Microsoft, in its statement, said, “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 United States, including the United States Treasury.”
TikTok has been valued at $50 billion by a group of ByteDance’s U.S.-based investors including Sequoia and General Atlantic, who also have been seeking to acquire control of TikTok, ReutersMicrosoft cautioned that the talks with ByteDance are preliminary and that “there can be no assurance that a transaction which involves Microsoft will proceed.” The company said it doesn’t plan to provide additional info “until there is a definitive outcome to our discussions.
Among other measures, Microsoft said, it would ensure that all private data of TikTok’s U.S. users “is transferred to and remains in the United States. To the extent that any such data is currently stored or backed up outside the United States, Microsoft would ensure that this data is deleted from servers outside the country after it is transferred.”
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