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03.08.2020

Microsoft in talks to buy TikTok

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The company hopes to conclude discussions by mid-September

Stocks impacted: Microsoft (MSFT)

The US tech giant has confirmed that it is in advanced talks to purchase the US operations of the video-sharing app TikTok and hopes to conclude discussions by mid-September. As a reminder, the White House threatens to blacklist the hugely popular Chinese-owned app over fears that TikTok's Beijing-based parent company, ByteDance, could turn over personal data about American citizens to the Chinese Communist Party. Microsoft is also looking to purchase TikTok's service in Canada, Australia and New Zealand.  Over the weekend, Trump noted that he does not support an American company seizing control of TikTok's U.S. assets.

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