Microsoft Is Said to Be in Talks to Buy TikTok in U.S.
(Bloomberg) — Microsoft Corp. is exploring an acquisition of TikTok’s operations in the U.S., according to a person familiar with the matter.TikTok, a video-sharing app, is owned by China-based ByteDance Ltd., which has been evaluating changes to its business structure because of the U.S. government’s national security concerns.President Donald Trump plans to announce a decision ordering Bytedance to divest its U.S. ownership of TikTok, according to people familiar with the matter. The U.S. has been investigating potential national security risks due to the Chinese company’s control of the app. Trump’sdecision could be announced as soon as Friday, said the people.Microsoft is in talks to purchase TikTok’s U.S. operations, according to the person who asked not to be identified because the discussions are private. A spokesman for Microsoft declined to comment.Read more: Trump to Order China’s ByteDance to Sell TikTok U.S. OperationsByteDance bought Musical.ly Inc. in 2017 and merged it with TikTok, creating a social-media hit in the U.S — the first Chinese app to make such inroads.As TikTok became more popular, U.S. officials grew concerned about the potential for the Chinese government to use the app to gain data on U.S. citizens. The Committee on Foreign Investment in the U.S., which investigates overseas acquisition of U.S. businesses, began a review of the purchase in the fall of 2019.Read more: TikTok Mulls Changes to Business to Distance Itself From ChinaFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.