President Donald Trump has agreed to give China's ByteDance 45 days to negotiate a sale of popular short-video app TikTok to Microsoft Corp , three people familiar with the matter said on Sunday.
"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. Microsoft, which also owns professional social media network LinkedIn, would become a major competitor to social media giants such as Facebook and Snap Inc were its bid for TikTok, which boasts 100 millions U.S. users, to succeed.
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.
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