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Microsoft Corp and Bytedance Ltd have put acquisition talks for TikTok on hold after US President Donald Trump said Friday he would oppose the deal, Dow Jones reported, citing people familiar with the matter who weren’t identified.
Trump’s comments prompted TikTok to make additional concessions, including agreeing to add as many as 10,000 jobs in the US over the next three years, according to the report.
Microsoft was exploring an acquisition of TikToks operations in the US, people familiar with the matter said. A deal would give the software company a popular social-media service and relieve US government pressure on the Chinese owner of the video-sharing app.
Microsoft Chief Executive Officer Satya Nadella spoke with Trump on Sunday to salvage the company’s effort to buy TikToks operations in the US and several other countries.
The purchase would result in Microsoft owning and operating TikTok in the US, Canada, Australia and New Zealand. Microsoft said it may invite other American investors to take minority stakes in the company.
Microsoft pledged to add more security, privacy and digital safety protections and ensure that all private data of Americans be transferred back to the US and deleted from servers outside the country.
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