Here's how China is reacting to the controversy surrounding TikTok in the U.S. ⇅
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Microsoft on Sunday confirmed that it has held talks with Chinese technology company ByteDance to acquire its trendy social app TikTok in the U.S. Microsoft said in a statement that it will keep working with the U.S. government on a deal and that it intends to conclude talks by September 15. CNBC's Eunice Yoon reports the latest from Beijing. Subscribe to CNBC PRO for access to investor and analyst insights on tech and more: https://cnb.cx/3dIH56N
Microsoft on Sunday confirmed that it has held talks with Chinese technology company ByteDance to acquire its trendy social app TikTok in the U.S. Microsoft said in a statement that it will keep working with the U.S. government on a deal and that it intends to conclude talks by September 15.
If it were to complete the deal, Microsoft could simultaneously resolve a recent controversy in Washington and gain power in consumer technology..
The statement comes two days after media outlets including CNBC reported that Microsoft was interested in acquiring the app, which is owned by Chinese company ByteDance. Soon after the reports emerged, President Trump said that he opposed the idea of Microsoft buying TikTok and that he would move to ban the app in the U.S.
The two companies have looked at Microsoft buying TikTok in the U.S., Canada, Australia and New Zealand, and Microsoft might offer other American investors to get involved in the acquisition, Microsoft said, adding that its CEO, Satya Nadella, has spoken with Trump. The company did not disclose deal terms.
“This new structure would build on the experience TikTok users currently love, while adding world-class security, privacy, and digital safety protections,” Microsoft said. “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.”
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