President Donald Trump only agreed to allow Microsoft Corp to negotiate the acquisition of popular short-video app TikTok if it could secure a ...
NEW YORK/WASHINGTON: 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 .
This is a deadline that was put to ByteDance and Microsoft by the Committee on Foreign Investment in the United States , which scrutinises deals for potential national security risks, according to the sources. The negotiations between ByteDance and Microsoft will be overseen by CFIUS, a US government panel that has the right to block any agreement, according to the sources, who requested anonymity ahead of a White House announcement. Microsoft cautioned in its statement that there is no certainty a deal will be reached."Microsoft fully appreciates the importance of addressing the President's concerns.
State-backed newspaper China Daily on Monday called ByteDance the victim of a"witch hunt" from the United States, and said Washington had not provided evidence to support its allegation that TikTok posed a threat to US national security. It is not clear how much Microsoft could pay for TikTok. Reuters reported last week that ByteDance's valuation expectations for the app exceeded US$50 billion, although US pressure to divest it could lower that price tag.
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