top stories 

  • Microsoft Eyes Entire Glo...

  • 16 Beirut Port Staff Deta...

  • US Lifts Advisory On Avoi...

  • Supreme Court Seeks Charg...

  • Mumbai University first m...

  • Bihar Board passes 2.14 l...

  • DU approves syllabi of fo...

  • Maharashtra government ti...

  • MLA From Gehlot Camp Says...

  • Hurricane Douglas threate...

  • Use Your Voices To Drown ...

  • Signing Merit-Based Immig...

  • World Population In 2100 ...

  • Health English...

  • Can't Give Timeline For V...

  • 1st-Ever Cargo Vessel Fro...

Admin Reporter- POOJA1

Aug 01 2020


Microsoft is in talks to buy TikTok in US

Saturday, 1 August 2020

Microsoft Corp. is exploring an acquisition of TikTok’s operations in the U.S., according to a people familiar with the matter. A deal would give the software company a popular social-media service and relieve U.S. government pressure on the Chinese owner of the video-sharing app.The Trump administration has been weighing whether to direct China-based ByteDance Ltd. to divest its stake in TikTok’s U.S. operations, according to several people familiar with the issue. The U.S. has been investigating potential national security risks due to the Chinese company’s control of the app.

 

 

 

 

While the administration was prepared to announce an order as soon as Friday, according to three people familiar with the matter, another person said later that the decision was on hold, pending further review by President Donald Trump. All of the people asked not to be identified because the deliberations are private.Spokespeople for Microsoft and TikTok declined to comment on any potential talks. The software company’s interest in the app was reported earlier by Fox Business Network.

 

 

 

 

“We are looking at TikTok. We may be banning TikTok,” Trump told reporters Friday at the White House. “We are looking at a lot of alternatives with respect to TikTok.”Any transaction could face regulatory hurdles. ByteDance bought Musical.ly Inc. in 2017 and merged it with TikTok, creating a social-media hit in the U.S -- the first Chinese app to make such inroads. As TikTok became more popular, U.S. officials grew concerned about the potential for the Chinese government to use the app to gain data on U.S. citizens.

 

 

 

 

The Committee on Foreign Investment in the U.S. began a review in 2019 of the Musical.ly purchase. In recent years, CFIUS, which investigates overseas acquisitions of U.S. businesses, has taken a much more aggressive role in reviewing and approving deals that may threaten national security. It can recommend that the president block or unwind transactions.

instagram imagesfollow us @ instagram