President Donald Trump stated that Microsoft is among US companies interested in acquiring TikTok to prevent a potential ban in April. Trump also mentioned other unnamed companies vying for ownership, suggesting a bidding war could result in a favorable deal. The deadline for TikTok to find new ownership satisfying the US government has been extended to April 4th.
President Donald Trump said Monday evening that Microsoft is among the U.S. companies looking to take control of TikTok to help the popular app avert an effective ban that could kick-in in April.
Trump added that other companies were also interested in purchasing TikTok, but wouldn’t provide a list. In one of his first acts in office last week, Trump extended the deadline for TikTok to find new ownership that satisfies the government by 75 days, to April 4 from January 19.The president has said that he’s looking for the ultimate purchaser to give the U.S. a 50% stake in the company, which is owned by China-based ByteDance. But the details remain murky, and its unclear whether he’s proposing control of the app by the government or another U.S. entity.
In media interviews last week, Bill Ford, the chairman of the global investing firm General Atlantic and a ByteDance board member, said the company is prepared to engage with the Trump administration and Chinese officials to find a solution that keeps TikTok available. He also floated the idea that there could be a solution short of a full divesture by ByteDance.
TIKTOK Microsoft Donald Trump US Ban Bidding War
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