Business
Microsoft To Buy TikTok But The Intervention Of The President May Prove To Be Complicated
The race to buy TikTok is still continuing on the tracks. According to the US ministries, the app is a national security threat to America. As a result, the parent company of the app called ByteDance is forced to sell it to some US business.
President Donald Trump recently signed an order in which it is clearly stated that the app must be sold before September 15th. The order was signed on 6th August. Although recently TikTok made a decision and filed a complaint against the US government. The suit which is filed by the app can delay the procedure of selling it. This will buy time for the app to look for the proper candidates.
Microsoft is one of the first candidate which is very keen on buying the app but it is said that the company does not want to make any big investment in it. The company is reluctant in making any big investment because of the current tension going on between the US and China.
TikTok is also said to cut the ties with Google Cloud and sign up Microsoft Azur for the same feature. This will make Microsoft one of the largest customer of the app. It is also said that the app is looking to combine with Microsoft on a 7 billion dollar advertising business.
The company issued a statement on 2nd August to buy the app but the president was really quick to comment on it. President Trump clearly stated that buying 30% of the app is quite complicated. This statement provided inflation to the company’s desire. Another bidder competing with Microsoft includes name like Oracle.
Netflix and Twitter have also been approached but the companies have still not issued any statement related to the sale. If we talk about the price of the app that it will come to around $20 billion to $50 billion. Microsoft will be buying the app for around $10 to $30 billion only.
Although, the deal with Microsoft will boost the business of Tiktok for up to $80 billion.
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