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Microsoft Stock Jumps 4% on TikTok Acquisition Talks

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thewrap.com
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Microsoft said it was still looking to acquire TikTok’s U.S. business from Bytedance, its Beijing-based parent company, as the wildly-popular video app faces a potential ban from President Trump over national security concerns.

Microsoft said it was continuing negotiations after CEO Satya Nadella had talked to President Trump about the potential deal.

The company also said it will have to move quickly, with a Sept. 15 deadline set for when the deal could be completed.“Microsoft fully appreciates the importance of addressing the President’s concerns.

It is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury,” the company said.

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