Microsoft, ByteDance pausing talks on TikTok purchase: Reports

Moscow: is putting on hold negotiations with ByteDance, the parent company of Chinese-based video-sharing app. TikTok, after US President Donald Trump suggested that he opposed the deal to purchase TikTok, The Wall Street Journal reports.

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Trump told reporters on Friday that he was planning to ban TikTok, which is a potential competitor for social networks like YouTube and Facebook, from operating in the US, but the US president also said that his administration was considering alternative options as well.
 
The Wall Street Journal said citing sources familiar with the matter on Saturday that Microsoft and ByteDance are still waiting for clarity regarding any future possible action against TikTok from the Trump administration.
 
According to The Wall Street Journal, after Trump’s remarks, TikTok made additional concessions, such as agreeing to add as many as 10,000 jobs in the US over the next three years.
 
Before Trump’s comments, Microsoft was already in advanced talks with ByteDance regarding the purchase of TikTok and a deal was possible as early as Monday, according to The Wall Street Journal.
 
In early July, US Secretary of State Mike Pompeo said the administration was considering a ban on access to TikTok over privacy concerns. The social media company claims user data is safe and not shared with Chinese authorities. Meanwhile, Beijing has called on Washington to stop using government mechanisms to pressure Chinese companies.
 
US Treasury Secretary Steve Mnuchin said earlier this week that the administration was conducting a national security review of TikTok and that the Treasury department would advise Trump in the coming days on any possible action to take if required. (UNI)
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