Trump to give TikTok 45 days to reach deal to sell: Reuters
Arirang News
2020-08-03
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"트럼프, 틱톡에 매각시한 통보"..MS, 내달 15일까지 인수협상
Microsoft says it will push ahead with talks to acquire the U.S. operations of Chinese-owned short video app TikTok, a potential blockbuster deal that could re-shae the social media industry and further inflame crumbling U.S., China relations.
The U.S. tech giant formally declared its interest after President Trump reversed course on a planned ban of TikTok and gave the two firms 45 days to come to a deal.
Our Choi Jeong-yoon with the details.
Citing two people familiar with the matter, Reuters reported on Sunday local time that President Donald Trump has given Chinese ByteDance, the parent company of popular short-video application TikTok, 45 days to negotiate the sale of the app to Microsoft.... practically giving approval of the merger.
Such a comment goes somewhat against from what Trump's previous claims that TikTok under its current Beijing-based parent company poses a national risk.
"We're looking at TikTok, we may be banning TikTok, we may be doing some other things. There are a couple of options, but a lot of things are happening so we'll see what happens..."
But following a discussion between Trump and Microsoft CEO Satya Nadella, the U.S. tech company said it intends to acquire TikTok from ByteDance by September 15th.
Microsoft said it would ensure all private data of TikTok’s American users is transferred to and remains in the United States, mentioning it understands Trump's concerns.
The Committee on Foreign Investment in the United States, which reviews the national security implications of foreign business deals, will monitor the negotiations and has the power to block the deal.
ByteDance on the other hand, has suggested it might be considering legal countermeasures to the U.S. action.
In its statement on Sunday night, Bytedance said it will actively protect its lawful rights and interests using all powers given by the U.S. legislation... if TikTok is banned or if the merger with Microsoft is blocked.
The reason for the sudden change in Trump's stance is yet uncertain, but foreign media outlets explained he was aware of young voters in America.
The app has 100 million users in the U.S.,... and NBC predicted that if Trump bans the app, it could motivate young TikTok users to vote against the president in the November election.
Choi Jeong-yoon, Arirang News.
Microsoft says it will push ahead with talks to acquire the U.S. operations of Chinese-owned short video app TikTok, a potential blockbuster deal that could re-shae the social media industry and further inflame crumbling U.S., China relations.
The U.S. tech giant formally declared its interest after President Trump reversed course on a planned ban of TikTok and gave the two firms 45 days to come to a deal.
Our Choi Jeong-yoon with the details.
Citing two people familiar with the matter, Reuters reported on Sunday local time that President Donald Trump has given Chinese ByteDance, the parent company of popular short-video application TikTok, 45 days to negotiate the sale of the app to Microsoft.... practically giving approval of the merger.
Such a comment goes somewhat against from what Trump's previous claims that TikTok under its current Beijing-based parent company poses a national risk.
"We're looking at TikTok, we may be banning TikTok, we may be doing some other things. There are a couple of options, but a lot of things are happening so we'll see what happens..."
But following a discussion between Trump and Microsoft CEO Satya Nadella, the U.S. tech company said it intends to acquire TikTok from ByteDance by September 15th.
Microsoft said it would ensure all private data of TikTok’s American users is transferred to and remains in the United States, mentioning it understands Trump's concerns.
The Committee on Foreign Investment in the United States, which reviews the national security implications of foreign business deals, will monitor the negotiations and has the power to block the deal.
ByteDance on the other hand, has suggested it might be considering legal countermeasures to the U.S. action.
In its statement on Sunday night, Bytedance said it will actively protect its lawful rights and interests using all powers given by the U.S. legislation... if TikTok is banned or if the merger with Microsoft is blocked.
The reason for the sudden change in Trump's stance is yet uncertain, but foreign media outlets explained he was aware of young voters in America.
The app has 100 million users in the U.S.,... and NBC predicted that if Trump bans the app, it could motivate young TikTok users to vote against the president in the November election.
Choi Jeong-yoon, Arirang News.
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