Microsoft Confirms It's in Talks to Buy TikTok
Confirming rumors that have been swirling for days, Microsoft (NASDAQ: MSFT) said Sunday it has been in talks to buy the short-form video app TikTok in the U.S. and several other countries from its Chinese parent ByteDance. Microsoft said it is working with the federal government to ensure the deal could be approved by regulators, and is working to conclude talks by Sept. 15.
Though President Trump initially said he opposed such a deal, he has reportedly given Microsoft 45 days to negotiate the acquisition, according to a report by Reuters. In recent weeks, Trump has repeatedly said he plans to ban the app, though he has yet to follow through with those threats.
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Source Fool.com
