Microsoft has now said in a blog post that it expects to complete the negotiations to purchase TikTok before 15th September 2020 at least. The company says it is “prepared to continue discussions to explore a purchase of TikTok in the United States”. It says the development is because its CEO Satya Nadella and President Trump held a conversation over the issue.
This also happens to the first time the company is confirming reports it is trying to acquire the video-sharing platform.
“Microsoft fully appreciates the importance of addressing the President’s concerns. It is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury.
“It adds that the company expects to 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,” the blog post reads.
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Microsoft also says that both companies told authorities about their intentions. The intention explores a preliminary proposal that would involve a purchase of the TikTok in the US. Microsoft will also own and operate TikTok in Canada, Australia, and New Zealand too as part of the deal.
Microsoft promises to “ensure that all private data of TikTok’s American users are transferred to and remains in the United States“. Most of the trouble TikTok faces results from allegations that it was stealing user data on behalf of China. The company has repeatedly denied the claim, but President Trump had been insistent on banning it in the US.
The company also promises in the post not to store or backup US user data outside the United States. Microsoft says it would delete any of such data from servers outside the US after transferring them back.
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