The Strategist

Microsoft confirms intention to buy stake in TikTok


08/03/2020 - 08:46



Microsoft is considering acquiring a stake in the Chinese TikTok app. Earlier, the media reported about the company's interest with reference to sources.



peakpx
peakpx
“Microsoft will move into negotiations with TikTok owner ByteDance in the next few weeks, and in any case will complete them by no later than September 15, 2020. Throughout this process, Microsoft looks forward to continuing dialogue with the US government, including President,” the company said in a statement.

The company clarifies that the negotiations are still preliminary and there are no guarantees that they will continue. According to The Wall Street Journal, the company has suspended negotiations after President Donald Trump announced plans to ban the app in the country. “Microsoft appreciates the personal involvement of the US government and President Trump as it continues to develop robust security measures for the country,” the company said in a statement.

US President Donald Trump said that Chinese social networks TikTok and WeChat can be used to collect information about US citizens. Now the White House administration is considering the possibility of a complete ban on the application in the country. Yesterday, August 2, Head of the State Department Mike Pompeo announced that certain measures against TikTok will be taken in the coming days.

In June, TikTok and some 60 other Chinese apps were blocked in India for allegedly damaging the country's sovereignty and security. A spokesman for TikTok said the company does not share user data with foreign authorities.

source: bloomberg.com