Microsoft to continue discussions to buy TikTok in the US

Via its official blog, Microsoft announced it will continue discussions with ByteDance to buy the popular social app TikTok in the United States, following a conversation between Nadella and Trump.

“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,” says the post.

Tonight’s announcement comes two days after reports of Microsoft’s interest in purchasing TikTok. That same day, Trump stated he was against the proposed purchase and said he was going to ban it.

If Microsoft’s purchase were to be approved, it would own TikTok in the United States, Canada, Australia, and New Zealand. Other American investors may join Microsoft “on a minority basis.”

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

The Big M would also make sure “all private data of TikTok’s American users is transferred to and remains in the United States.” Dats stored in servers outside the US would be deleted.

According to Reuters, Trump has given the Chinese-owned company 45 days to make a deal with Microsoft.

The Committee on Foreign Investment in the United States (CFIUS) will supervise the discussions between Microsoft and ByteDance.

[Sources]: Microsoft: Microsoft to continue discussions on potential TikTok purchase in the United States. Reuters: Exclusive: Trump to give TikTok’s Chinese owner 45 days to agree sale – sources.