China has complained that a deal between Microsoft and TikTok would amount to a “smash and grab” raid on a Chinese company
THE POLITICS of technology in America are becoming ever more febrile. Big tech companies have long been accused of abusing dominant market positions; four were grilled by a congressional committee last week. Social-media firms are beset by allegations of bias. And the administration of President Donald Trump regards China’s growing technological prowess as a threat to both America’s competitiveness and its national security.
In recent days the anti-Chinese theme has taken a new twist: Microsoft looks likely to buy the American assets of TikTok, a Chinese-made social-media app that teenagers around the world find addictive. Mr Trump, who has threatened to “close down” the app on September 15th unless it is bought by a “very American” company, has blessed the idea.
Mr Trump is unhappy with ByteDance, TikTok’s parent company, because he perceives it to be too close to the Chinese government and the ruling Communist Party . Meanwhile ByteDance counters that its software does not nefariously snoop on its users, nor does it share any data with the CCP.
Microsoft's shareholders appear to welcome the acquisition, despite the political uncertainties and a mooted purchase price of $50bn—twice as much as its biggest previous purchase, LinkedIn, a professional-networking and job-search platform. Microsoft’s share price has risen by 4% since the announcement of the prospective deal, adding around $60bn to its market value.
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