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Microsoft confirms talks to buy TikTok in U.S., aims to finish deal by Sept. 15

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Microsoft confirms talks to buy TikTok in U.S., aims to finish deal by Sept. 15

PUBLISHED SUN, AUG 2 20207:27 PM EDTUPDATED 2 HOURS AGOJordan Novet@JORDANNOVETKEY POINTS

  • Microsoft’s statements on Sunday marked the company’s first confirmation of talks it has held to acquire the popular social-media app.
  • Other investors could participate in an acquisition alongside Microsoft, according to the company statement.
A man holding a phone walks past a sign of Chinese company ByteDance's app TikTok, known locally as Douyin, at the International Artificial Products Expo in Hangzhou, Zhejiang province, China October 18, 2019.

A man holding a phone walks past a sign of Chinese company ByteDance’s app TikTok, known locally as Douyin, at the International Artificial Products Expo in Hangzhou, Zhejiang province, China October 18, 2019.Reuters

Microsoft on Sunday confirmed that it has held talks with Chinese technology company ByteDance to acquire its trendy social app TikTok in the U.S. Microsoft said in a statement that it will keep working with the U.S. government on a deal and that it intends to conclude talks by September 15.

If it were to complete the deal, Microsoft could simultaneously resolve a recent controversy in Washington and gain power in consumer technology. 

The statement comes two days after media outlets including CNBC reported that Microsoft was interested in acquiring the app, which is owned by Chinese company ByteDance. Soon after the reports emerged, President Trump said that he opposed the idea of Microsoft buying TikTok and that he would move to ban the app in the U.S.

The two companies have looked at Microsoft buying TikTok in the U.S., Canada, Australia and New Zealand, and Microsoft might offer other American investors

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