Microsoft Corp., the Redmond, Washington-based American multinational software manufacturer, had been in an advanced stage talk to purchase the US operation of China’s small video sharing app TikTok, which has been digesting a cascade of scrutiny over the recent past regarding its relationship with the Chinese Government of Xi Jinping, a New York Times report published late on Saturday had unveiled citing a source who wished to remain anonymous.
However, a Fox Business report had revealed the news first on Saturday morning. In point of fact, a potential buyout deal for TikTok’s US businesses would mark up a major victory for the Microsoft Corp.
which had long been seeking for ways to diversify its businesses further following a successful introduction of its cloud business Microsoft Azure back in the 2014s, while a TikTok takeover would also proffer a significant relief for TikTok alongside its Chinese parent company ByteDance, which later this week had tagged TikTok at $52 billion.
Apart from that, latest media headline on TikTok’s US business came forth a day after the US President Donald Trump had been quoted saying that he would ban TikTok’s US operation as early as by next Monday.
Microsoft closes in TikTok takeover as Trump threatens to ban TikTok in the US
Meanwhile, as Microsoft Corp.
has been nearing a takeover deal for TikTok’s US operation, speaking to the reporters aboard Air Force One in Florida on Friday, US President Donald Trump said, “As far as TikTok is concerned, we’re banning them from the United States.
I have that authority. It’s going to be signed tomorrow,” adding that he could use the emergency economic powers or a presidential proclamation to enforce the action. On top of that, while Microsoft Corp. had decline to comment over the issue, Bloomberg News and Wall Street Journal had quoted separate sources as saying that the Trump Administration would soon proclaim an order for ByteDance to divest its ownership of TikTok in the United States. Last month, TikTok was banned by the Indian Govt. alongside 58 other Chinese apps over national security concerns.