• About
  • Advertise
  • Careers
  • Write for us
  • Contact
  • Terms of service
Saturday, May 21, 2022
The Millennial Source
TMS
Home WORLD

Microsoft continues talks to buy TikTok after CEO meets with Trump

byThe Millennial Source
August 3, 2020
in WORLD
Microsoft discussing a potential purchase of TikTok with Trump

AP

Share on FacebookShare on TwitterShare on Linkedin



Microsoft said in a blogpost on Sunday that, following a meeting with United States President Donald Trump, Chief Executive Officer Satya Nadella remains in discussions to acquire TikTok in the US.

Microsoft was already in talks to purchase TikTok after Trump and US Secretary of State Mike Pompeo criticized TikTok’s ownership by Chinese startup ByteDance. 

However, a source close to the matter said talks had stalled after Trump, citing national security concerns, claimed on Friday he would ban TikTok in the US. 

Officials in the country have expressed concern that American user data could be given to the Chinese government by ByteDance. 

However, TikTok officials have repeatedly emphasized that such concerns may be exaggerated as the data of Americans is not subject to Chinese law. US data is stored in US-based servers backed up in Singapore.

Nonetheless, Microsoft said that to ease the concerns of US officials, it would complete a security review of the app before any potential purchase. 

“[Microsoft] 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.

“Microsoft will move quickly to pursue discussions with TikTok’s parent company, ByteDance, in a matter of weeks, and in any event completing these discussions no later than September 15, 2020.

“During this process, Microsoft looks forward to continuing dialogue with the United States Government, including with the President,” the company went on to add in the blogpost. 

If Microsoft acquires TikTok, it would own and control TikTok services in the US, New Zealand, Canada and Australia. American user data would also be transferred to and maintained in the US as part of its ongoing deal with ByteDance. 

“This new structure would build on the experience TikTok users currently love, while adding world-class security, privacy and digital safety protections, ” Microsoft said.

“The operating model for the service would be built to ensure transparency to users as well as appropriate security oversight by governments in these countries.”

On Sunday, ByteDance said in its own statement published on Chinese social media site Toutiao that it “has always been committed to becoming a global company” but “in this process, we are faced with all kinds of complex and unimaginable difficulties” such as a “tense political environment.”

“But we still adhere to the vision of globalization and continue to increase investment in markets around the world, including China, to create value for users around the world.

“We strictly abide by local laws and will actively use the rights granted to us by the law to safeguard the legal rights of the company,” the company added. 

Prior to the current deal, ByteDance had offered to reduce its ownership of TikTok and sell a majority stake of the app to American investors, but the Trump administration rejected this proposal.

The Financial Times reported that some executives at ByteDance believe Trump’s intervention and his threat to ban TikTok may be a ploy to secure a better deal for Microsoft. 

TikTok declined to comment on the negotiations, with a spokesperson saying on Sunday, “While we do not comment on rumors or speculation, we are confident in the long-term success of TikTok.”

Micrsoft are also non-commital at present, saying, “These discussions are preliminary and there can be no assurance that a transaction which involves Microsoft will proceed.” 

Have a tip or story? Get in touch with our reporters at tips@themilsource.com

Like TMS? Subscribe to our free daily newsletter

Related

Tags: AsiaNorth AmericaShort read
ShareTweetShare

Latest Posts

SEC Wall Street

The US SEC investigates Wall Street over use of unapproved messaging apps

May 19, 2022
China housing

China gives property-buying benefits to families with three children amid declining housing market and birth rates

May 18, 2022
US recession

There is a “very, very high risk” of a US recession, says Goldman Sachs Chairman Lloyd Blankfein

May 17, 2022

Securing 1,416 votes, former security chief John Lee is now Hong Kong’s new leader

May 9, 2022

What you need to know about the Philippine presidential election right now

May 9, 2022

China’s lockdowns are ineffective in the long run says White House medical adviser Dr. Anthony Fauci

May 6, 2022

Hong Kong online investment scam victims lost over HK$132 million this year

May 6, 2022

US hikes rates by half-percentage point, rules out bigger future rate increases

May 5, 2022

What is the US Supreme Court abortion law leak, and why does it matter?

May 4, 2022

SUBSCRIBE TO THE TMS NEWSLETTER

By providing your email, you agree to our Privacy Policy

The Millennial Source Ltd. 2021

No Result
View All Result
  • Your daily briefing
  • About us
  • Explore
    • Startups
    • Climate change
    • Tech giants
    • Crypto
    • The future of work
    • Banking giants
    • Economy
  • Lifestyle
  • TMS archives
  • Write for us
  • Contact
  • Privacy Policy & Terms

© 2022 The Millennial Source Ltd.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in settings.

string(24) "jsonld single post debug"
The Millennial Source
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.