Microsoft and ByteDance Put TikTok Acquisition Talks On Hold As Trump Opposed The Deal: Report

  • by Staff@ TSD Network
  • August 2, 2020

After several reports floated on various journals, everyone is hoping for the TikTok US acquisition announcement by U.S. tech giant Corp. But now there still seems some stone left in this path.

And now as reported by Wall Street Journal, Microsoft & ByteDance have put acquisition talks for the TikTok US on hold after President Trump said late Friday he opposed the deal.

Reportedly, Microsoft and Bytedance got a set back when the United States president Trump said he would prefer a ban on the application. And due to this uncertainty, now both the companies are trying to seeking clarity from the Trump administration before resuming the deal talks.

Earlier this development, Microsoft Corp. is said to be in advance talks to acquire the US business of Chinese Bytedance-owned app TikTok. Even some reports also suggested that China-based TikTok’s parent company ByteDance has agreed to divest the US operations of TikTok completely.

The Chinese social media giant, ByteDance was trying to keep a minority stake in the US business of TikTok, but sources said that White House had rejected this plan. And with fresh reports that out on the internet, now China-based ByteDance seems to be caught in a political tussle between the US and China.

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Staff@ TSD Network

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