September 18, 2021

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Tiktok will continue the M&A talks even after the Microsoft Trump ban

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Microsoft has confirmed that talks are under way to buy tickets from China’s ByteDance – and expects the M&A talks to end by September 15 – Donald Trump said he opposes the deal and claims he plans to ban tickets.

Microsoft has said that if it makes a deal for TickTock, all data servers covering the US coast of US government private users will be officially removed to ease the concerns of US policymakers that Chinese government officials will be able to track TickTock users or access private messages.

“After conversations between Microsoft CEO Satya Nadela and President Donald J. Trump, Microsoft is ready to continue talks to look to buy Tiktok in the United States,” Redmond, the wash-based technology giant, said in a statement on Sunday.

Trump told reporters Friday that he plans to take some sort of step to ban Tiktok, citing national security concerns raised by Chinese owners of popular social-video apps. However, experts have questioned whether such a measure would remain in force on a legal basis.

“Microsoft fully appreciates the importance of resolving the president’s concerns,” Microsoft said in a statement. It is committed to acquiring Tiktok subject to a full security review and providing appropriate economic benefits to the United States, including the United States Treasury. “

Reports for TickTock and BitDance did not immediately respond to a request for comment on Microsoft’s announcement.

Tiktak has been valued at 50 50 billion by a group of U.S.-based investors in BitDance, including Sequoia and General Atlantic, Reuters reported last week.

Microsoft warned that discussions with ByteDance were preliminary and “no assurances can be given that any transactions involving Microsoft will proceed.” The agency said it “does not plan to provide additional information until a specific outcome of our discussions is reached.”

At any event, Microsoft has said it plans to “end this discussion” with ByteDance about the acquisition of TickTock after September 15, 2020.

Among other measures, Microsoft said, it will ensure that all personal data of TickTock users in the United States is “migrated to the United States and, finally, such data is currently stored or backed up outside the United States.” Will be deleted. “

“The new framework will build on the experience Tiktok users have gained so far, while adding world-class security, privacy and digital security protection.” Microsoft’s statement said that the operating model of the services should ensure transparency of users as well as proper security supervision by governments. Will be built.

According to Microsoft, ByteDance and Microsoft have approached the Committee on Foreign Investment in the United States (CFIUS) to explore a preliminary proposal involving Microsoft in purchasing TickTock’s operations in Canada, Australia and New Zealand in the United States. Microsoft said it could “invite other American investors to participate in this purchase on a minority basis.”

Tiktok recently hired Disney executive Kevin Mayer as CEO, he also joined ByteDance as CEO. In a bid to allay security fears through the app, Mayer announced last week that TickTock would publicly disclose the app’s algorithms, additions policy and data flow.

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