Microsoft Corp. said Sunday it is ready to continue acquisition talks with China’s TikTok, following a conversation between CEO Satya Nadella and President Donald Trump.
Microsoft MSFT, +0.54% said it is looking to “move quickly” in negotiations with TikTok parent Bytedance, and hopes to have a deal in place by Sept. 15. “During this process, Microsoft looks forward to continuing dialogue with the United States government, including with the president,” the company said.
“This new structure would build on the experience TikTok users currently love, while adding world-class security, privacy, and digital safety protections,” Microsoft said. “Among other measures, Microsoft would ensure that all private data of TikTok’s American users is transferred to and remains in the United States.”
The Wall Street Journal reported Saturday that the talks had been put on hold after opposition from Trump. Last week, the president threatened to ban the popular video app from operating in the U.S. due to national security concerns.
Watch Microsoft stock fly tomorrow.
How can you buy something or want to buy something that’s about to be banned? Honest question.