US President Donald Trump today announced that TikTok will be banned in US if not sold to Microsoft or another acceptable company by September 15.
He also mentioned that the U.S. Treasury Department would need to receive a lot of money in return for the deal. We are not sure what he exactly meant by this statement.
Microsoft’s role in the sale of the US division of TikTok has been mainly rumor, but last night Microsoft released a statement which for the first time confirms their intent to purchase the company, and also reveals that more than the US market is involved.
“Microsoft 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,” yesterday Microsoft said in a statement. You can read Microsoft’s full response here.