Microsoft no later than September 15 will conclude the negotiations for the purchase TikTok
The American company Microsoft in the coming weeks and will begin no later than September 15 will conclude the negotiations with the Chinese ByteDance about buying the popular app TikTok, the transaction as minority shareholders can participate and other U.S. companies, according to Microsoft.
It is noted that Microsoft intends to buy TikTok subject to the "full safety analysis and the provision of adequate economic benefits to the United States."
At the same time will be notified to the Committee on foreign investment in the United States (CFIUS).
"The two companies had notified its intention to examine a preliminary proposal, which will include the purchase of service TikTok in the United States, Canada, Australia and New Zealand and will lead to the fact that Microsoft will own and use TikTok on these markets. Microsoft may offer other American investors to participate in the purchase of a minority basis," the statement said.
In the company notice that the operating model of the service TikTok is designed to provide "transparency for users, as well as appropriate safety oversight by the governments of these countries". In addition, Microsoft ensures that all the personal data of American users TikTok will remain in the United States, and the data are now stored abroad, will be deleted.
TikTok is the app for creating and viewing a short video, owned by Chinese company ByteDance. Released in 2018, it is the leader in the segment of applications for short videos in China and is gaining popularity around the world.
The US President Donald trump on Friday said it plans to ban in the US app TikTok. According to the authorities of the United States, through this application the company ByteDance may transfer personal information to the Chinese authorities. TikTok says he never passed information to the PRC authorities and do not intend to do that.