NEW YORK/WASHINGTON – President Donald Trump only agreed to allow Microsoft Corp to negotiate the acquisition of popular short-video app TikTok if it could secure a deal in 45 days, three people familiar with the matter said on Sunday.
This is a deadline that was put to ByteDance and Microsoft by the Committee on Foreign Investment in the United States , which scrutinizes deals for potential national security risks, according to the sources. “Microsoft fully appreciates the importance of addressing the President’s concerns. It is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury,” Microsoft said in a statement.
Under the proposed deal, Microsoft said it would take over TikTok’s operations in the United States, Canada, Australia and New Zealand. It said it would ensure that all private data of TikTok’s American users is transferred to and remains in the United States.
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