Microsoft/TikTok deal on hold after presidential opposition – WSJ

Microsoft/TikTok deal on hold after presidential opposition - WSJ
  • The president on Friday night said he preferred a ban of TikTok from the US rather than a sale, catching both Bytedance (BDNCE) and Microsoft (NASDAQ:MSFT) off-guard, say sources.
  • TikTok initially tried to save the deal by making additional concessions, such as adding 10K US jobs over the next three years, and Bytedance founder Zhang Yiming agreeing to sell his stake, but it’s not clear that’s going to change Trump’s mind. For now, deal talks are dead, reports the Journal.

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Author: BDNCE

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