Microsoft and TikTok plan to finish acquisition talks within the next three weeks, ahead of President Trump’s Sept. 15 deadline, CNBC’s David Faber reported Wednesday.
If the deal goes through, Microsoft would own TikTok in the U.S., Canada, Australia and New Zealand. The price could be as high as $30 billion, or as low as $10 billion, Faber reported.
If the deal goes through, Microsoft has already agreed with the U.S. government to bring TikTok’s code from China to the U.S. within one year.
Treasury Secretary Steve Mnuchin is “deeply involved” in process, according to Faber. President Donald Trump has said that the U.S. Treasury should get a cut of the acquisition, but it’s unclear how that would work or if it’s even legal.
TikTok has been under fire from the Trump administration, which has accused the Chinese-owned app of collecting data on Americans and sending it to the Chinese government… President Donald Trump has stressed that he will ban the app if ByteDance doesn’t sell the widely-popular unit to an American company by September 15.
MacDailyNews Take: So, if Microsoft’s acquisition of TikTok happens, will TikTok somehow be a unified social network (insert massive engineering/political/cultural/etc. challenges) or two regional, separate networks – Microsoft’s U.S./Canada/Australia/New Zealand TikTok and China-based Bytedance’s “Rest of the World (but notably banned in India)” TikTok?