September 30, 2020

Microsoft will talk to acquire TikTok

2 min read

TikTok was blocked by the United States and even news that Microsoft intends to acquire the app’s equity in some markets. But then there was news that US President Trump did not support the acquisition of the app by US companies, and Trump wanted to completely block TikTok from operating in the US.

At present, there has been a turning point in the application. Microsoft officially announced that after communicating with Trump, it will continue to promote the acquisition of part of the market ownership of TikTok.

Microsoft said that after communicating with US President Trump, it will continue to work on acquiring Tiktok. Currently, Microsoft is in preliminary discussions with TikTok’s parent company, ByteDance.

Microsoft said that in any case, the discussion will be completed and announced no later than September 15, 2020, and that Microsoft will continue to maintain communication with the US government during the negotiation process.

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The company emphasized in its blog that it fully recognizes the importance of Trump’s concerns and is committed to acquiring Tiktok under the premise of a comprehensive security review.

Discussions with ByteDance will be conducted on the basis of notices issued by Microsoft and ByteDance to the Committee on Foreign Investment in the United States and maintain communication with the agency.

At the same time, Microsoft may also invite other US investors to participate in the acquisition in a minority stake, but Microsoft did not disclose the specific participants.

Microsoft says:

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.