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Microsoft Corp said on Sunday that it would continue discussions to acquire popular short-video app TikTok from Chinese internet giant ByteDance and that it was aiming to conclude the negotiations by September 15.
Microsoft said its chief executive Satya Nadella had a conversation with U.S. President Donald Trump to address the latter's concerns over the acquisition.
"Microsoft fully appreciates the importance of addressing the president's concerns. It is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury," Microsoft said in a statement.
A security guard stands near a thermal camera at an office of Bytedance in Beijing, China during the COVID-19 pandemic. /CFP
President Trump threatened on Friday to ban the popular app from operating in the United States.
Reuters on Saturday said that ByteDance had agreed to completely divest TikTok's U.S. operations, where it would exit completely and Microsoft Corp would take over, citing sources.
According to FOX Business, officials from Microsoft Corp and executives representing TikTok have been in discussions with the White House to prevent the Trump administration from issuing a complete ban of the app.
Later reports from the American broadcaster the NBC also confirmed the deal's going ahead, adding that acquisition is likely to close by mid-September, before the U.S.' November presidential election.
Reuters on Monday cited sources as saying that Trump has agreed to give Beijing-based ByteDance, TikTok's parent company, 45 days to negotiate a sale of popular short-video app TikTok to Microsoft Corp.
The sources also said that the negotiations between ByteDance and Microsoft will be overseen by the Committee on Foreign Investment in the United States, a U.S. government panel that has the right to block any agreement.
Plans to go global
The move to ban TikTok in the U.S. comes at a time of escalating geopolitical tensions between China and the Trump administration over a number of issues, emerging trade disputes and later spreading to fields including technology and finance.
U.S. Secretary of Secretary of State Mike Pompeo said on Sunday that Trump is days away from announcing strong action against the popular Chinese-owned video sharing app TikTok, alleging concerns over national security.
Following his allegations, in a statement released on Sunday late night, ByteDance, TikTok's parent company, has vowed to continue its plan to go global, "despite the headwinds in the progress."
The company will stick to globalization despite difficulties including U.S. political suppression and rival Facebook's smear, it said in the statement.
"We strictly abide by local laws and will actively use the rights granted to us by the law to safeguard the legal rights of the company," the company stressed.
(CGTN)
