Microsoft Gets 45 Days To Close Deal To Buy TikTok

August 3, 2020 Social Media, Trump Administration

President Donald Trump only agreed to allow Microsoft Corp to negotiate the acquisition of popular short-video app TikTok if it could secure a deal in 45 days, three people familiar with the matter said on Sunday.

The move represents an about-face for Trump and prompted the U.S. tech giant to declare its interest in the blockbuster social media deal that could further inflame U.S.-China relations.

Trump said on Friday he was planning to ban TikTok amid concerns that its Chinese ownership represents a national security risk because of the personal data it handles.

Trump has given TikTok’s owner ByteDance 45 days to reach a deal to sell the app https://t.co/3QzjzONQcx

— Business Insider (@businessinsider) August 3, 2020