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Microsoft Confirms It's In Talks To Buy TikTok's Operations Across The US, Various Other Countries
Microsoft CEO, Satya Nadella. (Stephen Brashear/Getty Images)
Satya Nadella-led global technology behemoth Microsoft Corp has confirmed that it is engaged in talks to acquire the operations of China-based short video sharing platform TikTok across the United States (US), Canada, Australia and New Zealand, reports Economic Times.
The development has been made public in a statement which comes after a discussion between Nadella and US President Donald Trump. The statement clearly spelt out that the talks will move quickly "in a matter of weeks" and the deal will be completed by no later than 15 September.
Tech giant said, "It is committed to acquiring Tiktok subject to a complete security review and providing proper economic benefits to the US, including the US treasury."
The statement issued by Microsoft Corp. also said that the company might also invite other US based investors to take up minority stakes in the company.
TikTok is owned by China's one of the largest unicorn technology companies ByteDance Ltd which has been at the centre of global pushback against Chinese companies owing to belligerent and aggressive posturing adopted by China on various issues and fronts under President Xi Jinping.
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