Microsoft continues its desire to try to buy TikTok
Microsoft announced that it will continue discussions to explore the possible purchase of the popular Chinese video app TikTok in the United States. The decision was released by the Redmond, Washington-based company after its CEO, Satya Nadella, spoke to US President Donald Trump, who on Friday announced his intention to ban the social network in the country. China.
"Microsoft will move quickly to continue discussions with TikTok parent company ByteDance in a matter of weeks, and in any case complete these conversations no later than September 15, 2020," the company noted on its corporate blog.
The basis of the deliberations would be a notification that both firms sent to the Committee on Foreign Investment in the United States (CFIUS), in which they communicate their intention to explore a preliminary proposal that would involve the purchase of the TikTok service in the United States, Canada, Australia and New Zealand.
The firm said they can invite other US investors to participate in a minority interest in the purchase.
With the acquisition, which, according to the statement, would be subject to a full security review and delivery of appropriate benefits to the United States, Microsoft would ensure that all private data of US TikTok users is transferred and remains in the country.
In addition, the technology indicated that they will ensure that such data is removed from servers outside the country after being transferred.
U.S. Treasury Secretary Steven Mnuchin said Trump may force a sale or block TikTok, due to the risk it may pose to the privacy of Americans.
The official, who heads the CFIUS, claimed to have discussed the matter with congressional leaders, including Speaker of the House of Representatives, Nancy Pelosi.
"We all agree that there has to be a change. The President (Donald Trump) can force a sale or he can block the application with IEEPA (the United States of America's International Emergency Economic Powers Act)," he pointed out.
Said norm authorizes the president to block transactions and freeze assets if he considers that there is an "unusual and extraordinary threat" to the national security or economy of the country.
The Wall Sreet Journal newspaper revealed that Microsoft stopped talks with the Bytedance company for the purchase of TikTok, after President Trump announced his plans to veto it.
Developed by the Beijing-based ByteDance, TikTok has been highly successful among the teenage public, but at the same time has raised serious questions about the security of user data and its links to the Chinese Communist Party.