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July 31, 2020 07:02 pm

Microsoft in Talks To Buy TikTok, as Trump Weighs Curtailing App

Microsoft is in talks to acquire TikTok, the Chinese-owned video app, New York Times reported Friday, citing a person with knowledge of the discussions, as President Trump said on Friday that he was considering taking steps that would effectively ban the app from the United States. From a report: It's unclear how advanced the talks between Microsoft and TikTok are, but any deal could help alter TikTok's ownership, said the person with knowledge of the talks, who spoke on the condition of anonymity. TikTok is owned by ByteDance, a Chinese internet company that is valued at $100 billion. That has raised scrutiny of the app, with Trump administration officials saying that they have been concerned that TikTok poses a threat to national security. The Trump administration has been weighing whether to order ByteDance to divest from American assets it acquired in 2017, which were later merged into TikTok. Bloomberg reported Friday that the president was poised to announce an order that would force ByteDance to sell TikTok's U.S. operations. The Trump administration has also been weighing other potential actions against the company, including adding ByteDance to a so-called "entity list," which prevents foreign companies from purchasing American products and services without a special license, according to people familiar with the matter.

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