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Saturday August 1, 2020

Microsoft may acquire America’s Tik Tok and Trump threatens to block the application

Following up on news leaked a few days ago about the possibility of American investors seizing the Tik Tok application to avoid harassment from the American administration, informed sources revealed today that Microsoft and other companies intend to acquire Tik Tok operations in the United States in an effort to relieve pressure from the Trump administration.

And three years ago, the Committee on Foreign Investment in the United States conducted an extensive investigation into the deal by ByteDance’s acquisition of the Musical.ly app, which later became Tic-Toc.

The committee asked the Chinese company to separate Tik Tok from it, after it saw it as a threat to national security because of its ownership by China.

Among the possible forms of separation and liquidation are US companies and investors’ acquisition of the company’s operations in the United States.

President Trump’s administration is studying several scenarios to mitigate the impact of the mini-video application, including blocking the application in the country or removing it from the American App Store or even adding it to the list of entities to apply the same ban applied to Huawei in terms of preventing it from dealing with American companies.

President Trump confirmed that there are several options regarding the Chinese application, including embargo and blocking, but he added that there are a lot of things happening that make his decision not yet decided, and the final decision is expected to be made on Saturday.

Tik Tok discussed several scenarios for diversifying owners and investors, including introducing non-Chinese risk investment companies such as Japan’s SoftBank, Sequoia Capital or General Atlantic, and allowing them to purchase a controlling stake in ByteDance. But the news is now talking about Microsoft’s acquisition.

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The market value of ByteDance is currently estimated at $ 100 billion, according to a study by PitchBook.


Source:

NY Times

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