Microsoft is in advanced talks to buy the US operations of TikTok, the popular Chinese-owned video app that has been a source of national security and censorship concerns, according to a person familiar with the discussions who spoke only on condition of anonymity because of the sensitivity to the negotiations.
The potential deal would be a victory for both companies, making Microsoft a major player in the social media arena and providing relief to TikTok and its parent company, Bytedance Ltd., a target of President Donald Trump’s.
For all the latest headlines follow our Google News channel online or via the app.
Trump said Friday that he would take action as soon as Saturday to ban TikTok in the US. Trump’s comments on Friday aboard Air Force One came after published reports that the administration is planning to order China’s ByteDance to sell TikTok.
“As far as TikTok is concerned, we’re banning them from the US,” Trump told reporters Friday on Air Force One as he returned from Florida.
Trump said he could use emergency economic powers or an executive order to enforce the action, insisting, “I have that authority.” He added, “It’s going to be signed tomorrow.”
Trump says US will ban fast-growing Tiktok app
‘We are not the enemy’: TikTok slams Facebook
Trump says US may ban TikTok; NYT reports Microsoft in talks to buy app
Microsoft declined to comment.
Reports by Bloomberg News and the Wall Street Journal citing anonymous sources said the administration could soon announce a decision ordering ByteDance to divest its ownership in TikTok.
There have been reports of US tech giants and financial firms being interested in buying or investing in TikTok as the Trump administration sets its sights on the app. The New York Times and Fox Business, citing an unidentified source, first reported Friday that Microsoft is in talks to buy TikTok.
Want to know more on Microsoft in advanced talks to buy Chinese-owned video app TikTok’s US operation click here go to market news source.
Market news summary from Al Arabiya market news.