China’s ByteDance is reportedly prepared to sell 100% of TikTok’s U.S. operations to head off a proposed ban on the app by President Trump.
In reportedly preparing an order to force TikTok’s Chinese parent company to sell it off, the Trump administration chooses a peculiar cyberdefense beachhead in an emerging battle over information espionage.ByteDance is now waiting on the administration to approve Microsoft Corp.’s potential acquisition of TikTok, said one person, who wasn’t authorized to speak publicly about the matter.
A deal would give the software company a popular social media service and relieve U.S. government pressure on the Chinese owner of the video-sharing app — although Trump seemed to throw cold water on the plan in his remarks on Friday. Microsoft’s move is “not the deal that you have been hearing about, that they are going to buy and sell, and this and that. And Microsoft and another one. We’re not an M&A [mergers and acquisitions] company,” Trump told reporters aboard Air Force One.statement thanking users for their support and promising the company “isn’t going anywhere.”“We’re here for the long run,” Pappas said, noting that the company plans to add 10,000 U.S. jobs to its 1,500 workforce over the next three years.
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