Microsoft to continue discussion to buy Tiktok after talks with Trump
Microsoft has said it will continue discussions on potential TikTok purchase in the United States after talks held between tech giants CEO Satya Nadella and President Donald Trump. Microsoft said it will move quickly to pursue discussions with TikTok’s parent company, ByteDance, in a matter of weeks, and in any event completing these discussions no later than September 15, 2020. During this process, Microsoft looks forward to continuing dialogue with the United States Government, including with the President Trump.
Microsoft to buy TikTok's US operations | What we know
- Microsoft has said following a conversation between Microsoft CEO Satya Nadella and President Trump, it is prepared to continue discussions to explore a purchase of TikTok in the United States.
- 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 said it fully appreciates the importance of addressing the President’s concerns and committed to acquiring TikTok subject to a complete security review, providing proper economic benefits to US, including the United States Treasury.
- Discussions with ByteDance will build upon a notification made by Microsoft and ByteDance to the Committee on Foreign Investment in the United States (CFIUS).
- Microsoft may invite other American investors to participate on a minority basis in this purchase.
- This new structure would build on the experience TikTok users currently love, while adding world-class security, privacy, and digital safety protections.
- The operating model for the service would be built to ensure transparency to users as well as appropriate security oversight by governments in these countries.
- Among other measures, Microsoft would ensure that all private data of TikTok’s American users is transferred to and remains in the United States.
- To the extent that any such data is currently stored or backed-up outside the United States, Microsoft would ensure that this data is deleted from servers outside the country after it is transferred.
- Microsoft appreciates the US Government’s and President Trump’s personal involvement as it continues to develop strong security protections for the country. These discussions are preliminary and there can be no assurance that a transaction which involves Microsoft will proceed. We do not intend to provide further updates until there is a definitive outcome to our discussions.
