Microsoft has announced on Sunday that it’ll continue discussions to accumulate US operations of the favored video-sharing app TikTok.
The development came after the US President Donald Trump threatened to ban the Chinese-owned app citing security concerns.
The statement from the POTUS sparked widespread concern and panic among creators on the social media platform.
The tech giant during a statement has revealed that the corporate plans to finish these “discussions” with the app’s parent company, ByteDance, “no later than September 15, 2020.”
“Microsoft fully appreciates the importance of addressing the President’s concerns,” consistent with the statement.
“It is committed to acquiring TikTok subject to an entire censoring and providing proper economic benefits to the us , including the us Treasury.”
“The discussions with ByteDance will repose on a notification made by Microsoft and ByteDance to the Committee on Foreign Investment within the us (CFIUS),” Microsoft wrote within the statement.
“The two companies have provided notice of their intent to explore a preliminary proposal that might involve a sale of the TikTok service within the us , Canada, Australia, and New Zealand and would end in Microsoft owning and operating TikTok in these markets,” the corporate continued, adding further that it’s going to invite other American investors “on a minority basis.”
According to the statement, Microsoft CEO Satya Nadella has spoken with Trump and can continue its pursuit of buying TikTok within the US.