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Microsoft reportedly considers buying all of TikTok

2020-08-06 18:06 by
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Microsoft reportedly wants to buy all of TikTok, not just the portion of it that operates in the US and a few other countries. Previously, Microsoft had expressed an interest in TikTok's business in the U.S., Canada, New Zealand and Australia. TikTok's U.S. business claims about 100 million users and could be valued in the range of $20 billion to $50 billion.

It's unclear how serious that expanded interest is, though. The talks are described as "preliminary," and Business Insider has a source saying the report is "completely false."

The discussions with TikTok's parent company, ByteDance will build upon a notification made by Microsoft and ByteDance to the Committee on Foreign Investment in the United States (CFIUS). The two companies have provided notice of their intent to explore a preliminary proposal that would involve a purchase of the TikTok service in the United States, Canada, Australia, and New Zealand and would result in Microsoft owning and operating TikTok in these markets. Microsoft may invite other American investors to participate on a minority basis in this purchase.

President Donald Trump imposed a Sept. 15 deadline on a TikTok acquisition, threatening to shut down the platform for short-form video montages in the U.S. if a deal is not completed. He's also requested a payment to the U.S. government as part of the deal.

Microsoft and TikTok declined to comment on the matter.

Read more -here-

 

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